New Zealand pound

1 NZD = 0.5 NAP 1 NAP = 2 NZD

The New Zealand pound ( English New Zealand Pound ( NAP ) ) was from 1840 until the changeover to the New Zealand Dollar (NZD ) in the year 1967, the national currency valid in New Zealand. As the British pound was divided into 20 shillings, each 12 pence the New Zealand pound.

History

Until the signing of the Treaty of Waitangi on 6 February 1840 annexed by the New Zealand and British colony, were different cash from British gold and silver coins and the other European countries in circulation. They were brought by whalers and traders, with their equivalents have been most freely negotiable.

The first bank, the bank notes in circulation was brought in New Zealand, the Union was founded in 1837 in London for Australia Bank of Australia, which opened a branch also the first bank in New Zealand. The bills had the same layout as the Australian bank notes of the Bank, only on the two illustrations above the left and right there was the imprint " New Zealand".

Until 1844, the legal position of the banknotes was unclear as payment. Only by the Union Bank of Australia Ordinance, an ordinance of the Governor Robert FitzRoy, a law was created, which regulated the exchange of gold and silver coins to banknotes.

1893 all banks were committed on the Bank Note Issue Act to secure the money spent by them with the equivalent of gold and invest accordingly gold reserves. With the establishment of the Reserve Bank of New Zealand on August 1, 1934 then lost the banks of their right to be allowed to issue banknotes and had to eventually sell their gold reserves to the central bank.

In 1963 the New Zealand Government decided to dezimalisieren the money. Using the Decimal Currency Acts of 1964, the New Zealand pound replaced on 10 July 1967 by the New Zealand dollar at the rate of £ 1 = NZ $ 2, one dollar was divided into 100 cents. 1971, the New Zealand dollar has been pegged to the U.S. dollar, he is fully convertible since 1985.