The New Zealand dollar is one of the most heavily traded currencies in the global forex market. There are around $5 billion NZD in circulation currently, with close to US$105 billion in New Zealand dollars traded daily on the global foreign exchange market. The Reserve Bank of New Zealand regulates the currency. The New Zealand dollar is traded and used as a reference currency in a lot of island territories in the South Pacific, like Tokelau, Nile, the Ross Dependency, Pitcairn Islands, and the Cook Islands.
New Zealand is a small country by population, but the New Zealand dollar is heavily traded in the international forex markets, because of the country’s large foreign bank base, high local interest rates, heavy foreign trade, and stable local economy.
Did you know the coins and currency-pairs have nicknames?
The New Zealand Dollar is nicknamed Kiwi, which is actually the name of a flightless bird which is a national symbol of New Zealand.