New Zealand - Currency & Exchange

The New Zealand dollar (NZ$) is based on the decimal system, and there are 100 cents in the dollar. There are coin denominations of 5, 10, 20, and 50 cents and $1 and $2, as well as banknotes in $5, $10, $20, $50, and $100 amounts.

Traveler's checks are easily converted to cash at banks, many hotels, some restaurants, duty-free stores, and currency converters, but they're less necessary now that most towns and cities have ATMs that allow you to withdraw small amounts of cash as needed. You can get traveler's checks at almost any bank, or by calling American Express (tel. 800/221-7282), Visa (tel. 800/732-1322, or 866/339-3378 for AAA members), or MasterCard (tel. 800/223-9920). If you choose to carry traveler's checks, be sure to keep a record of their serial numbers separate from your checks in the event that they are stolen or lost.

Most ATM cards are compatible with New Zealand systems. The Bank of New Zealand accepts ATM cards in the Cirrus system (tel. 800/424-7787; www.mastercard.com); other banks accept cards in the Plus system (tel. 800/843-7587; www.visa.com). Look at the back of your bank card to see which network you're on, then call or check online for ATM locations in New Zealand. Be sure to find out your daily withdrawal limit before you depart, and remember that many banks impose a fee every time a card is used at a different bank's ATM (this fee can be higher for international transactions).

The most convenient, of course, are your credit cards. Most New Zealand businesses take MasterCard and Visa. American Express, Diners Club, Bankcard, and Japan Credit Bank are also widely accepted in major tourist centers, but less so in smaller towns. Notify your credit card company of your impending trip abroad so that they don't become suspicious when the card is used numerous times in a foreign destination. You can also get cash advances on your credit card at an ATM. Keep in mind that credit card companies try to protect themselves from theft by limiting the funds someone can withdraw outside their home country, so call your credit card company before you leave home. Also be sure that you know your PIN (call your company to request yours, allowing at least a week for it to arrive by mail).

For U.S. readers: At this writing, $1 = approximately NZ$1.70, and this was the rate of exchange used to calculate the dollar values given in this book (rounded up to the nearest nickel). 

For British readers: At this writing, £1 = approximately NZ$2.75, and this was the rate of exchange used to calculate the pound values below.

Note: International exchange rates fluctuate depending on economic and political factors. Thus, the rates given in this table may not be the same when you travel to New Zealand