Foreign exchange guide to Pitcairn and the New Zealand dollar
What's in this Pitcairn currency guide?
The official currency of Pitcairn (country code: PN) is the New Zealand dollar, with symbol NZ$ and currency code NZD.
The New Zealand dollar is informally called the ‘kiwi’ by foreign exchange traders and analysts due to the kiwi bird, which is native to New Zealand, being something of a national symbol for the country. The kiwi bird is also depicted on New Zealand’s one-dollar coin.
Although the New Zealand dollar is considered one of the eight FX ‘majors’, it is actually only the world’s eleventh most traded currency. Further to the other seven majors – the US dollar, euro, yen, pound, Australian dollar, Canadian dollar and Swiss franc – the New Zealand dollar also falls behind the Mexican peso, the Chinese yuan and the Swedish krona in its share of the foreign exchange market (around 2%). The currencies of China and Mexico are not considered majors due to their emerging market status, while the krona’s market share has only exceeded that of the New Zealand dollar fairly recently (in 2016, according to the Bank for International Settlements) and is therefore not yet considered ahead of New Zealand’s currency.
In the past two decades, the New Zealand dollar’s lowest value against the US dollar occurred in October 2000 when the NZD/USD exchange rate traded at just 0.3901. The currency’s two-decade high occurred in August 2011 when NZD/USD reached 0.8842.
Among the majors, the New Zealand dollar is considered a riskier currency, which means that its value will fall against the larger majors (especially JPY, USD, CHF, GBP and EUR) during periods of economic uncertainty or when global geopolitical risk is elevated, or during bouts of high market volatility.
The physical currency consists of coins and banknotes. The coins come in denominations of 10 cents, 20 cents, 50 cents, $1, and $2. The banknotes come in denominations of $5, $10, $20, $50, and $100.
The banknotes feature images of famous New Zealand historical figures, such as Sir Edmond Hillary, Sir Apirana Ngata, and Kate Sheppard. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
Save money and time by Ordering your New Zealand dollar online from Travelex, you get better rates and can pick up the NZD cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in New Zealand dollar otherwise you may get much worst exchange rates.
The domestic currency in Pitcairn is the New Zealand dollar.
The three letter currency code for the New Zealand dollar is NZD — symbol is NZ$.
No, the New Zealand dollar is freely available and convertible. See guide: What is a closed currency?
|$ 1||NZ$ 1.6245|
|$ 5||NZ$ 8.1225|
|$ 10||NZ$ 16.25|
|$ 20||NZ$ 32.49|
|$ 50||NZ$ 81.23|
|$ 100||NZ$ 162.45|
|$ 250||NZ$ 406.13|
|$ 500||NZ$ 812.25|
|$ 1,000||NZ$ 1,625|
|$ 2,000||NZ$ 3,249|
|$ 5,000||NZ$ 8,123|
|$ 10,000||NZ$ 16,245|
|$ 20,000||NZ$ 32,490|
|$ 50,000||NZ$ 81,225|
|$ 100,000||NZ$ 162,450|
|$ 0.6156||NZ$ 1|
|$ 3.0780||NZ$ 5|
|$ 6.1560||NZ$ 10|
|$ 12.31||NZ$ 20|
|$ 30.78||NZ$ 50|
|$ 61.56||NZ$ 100|
|$ 153.90||NZ$ 250|
|$ 307.80||NZ$ 500|
|$ 615.60||NZ$ 1,000|
|$ 1,231||NZ$ 2,000|
|$ 3,078||NZ$ 5,000|
|$ 6,156||NZ$ 10,000|
|$ 12,312||NZ$ 20,000|
|$ 30,780||NZ$ 50,000|
|$ 61,560||NZ$ 100,000|
To get a good (and fair) exchange rate when sending money to Pitcairn you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
When sending money to Pitcairn it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more New Zealand dollar deposited into the recipient bank account and less margins and fees kept by the banks!