New Zealand did not have a central bank until 1934. Prior to then, currency was printed by a network of trading banks. The Reserve Bank initially issued the New Zealand pound, a reflection of its British origins. In 1967, the currency became the New Zealand dollar. Locals call their money the Kiwi. Since 1989, the Reserve Bank has had broad power including monetary policy and oversight of the financial sector. You can learn more history about New Zealand’s economy and money by visiting this Reserve Bank Museum.
