Country Guides Tokelau Currency

Currency in Tokelau: NZD Send & Spend FX Guide

Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Tokelau with the New Zealand dollar.

What is a good New Zealand dollar exchange rate?

The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.

To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:

Good things to know about the New Zealand dollar

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 New Zealand dollar banknotes and coins

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.

For more NZD information check out our selection of New Zealand dollar news and guides.

Travel money for Tokelau

Using Wise for New Zealand dollar travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.

Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.

For card purchases, if you are offered a choice of currencies always select to Pay in New Zealand dollar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.

If you really want New Zealand dollar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the NZD cash locally or even on travel day at the airport.

 

 

Tokelau: Travel Guide

Traveling to Tokelau requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.

In a world where travel has become easy and accessible to the masses, travelling to Tokelau – a territory of New Zealand – still requires a dedication that dissuades all but the most committed visitors. It takes upwards of 24 hours to reach Tokelau by boat from its nearest neighbour, Samoa, and you can forget about flying – there’s no airstrip. Once you’re there, the ship that brought you is your only means of getting between the nation’s three atolls – Fakaofo, Atafu and Nukunonu. It takes nine hours to travel between the two most distant ones (Fakaofo and Atafu). Your ship will also be your ticket home, so you’ll have to be prepared to stay for at least five days until it’s ready to leave, or wait for the next one in a week's time.

The distances around the atolls are short, so one can travel on foot within an atoll. Tourists can travel between atolls on a dinghy or traditional outrigger canoe.

What currency is used in Tokalau?

New Zealand dollar is the main currency used in Tokelau. Tokelau has no banks, no ATM's and no foreign exchange. Some islanders will accept Australian and Samoan currency. Don't expect to be able to use credit or debit cards, on Tokelau cash is king.

Everyday Costs in in Tokelau

How much does it really cost to live, work, or travel in Tokelau? Here's what to expect for daily expenses and expat living.

Currency Guide for Tokelau (TK)

For travelers planning a week-long mid-range stay in Tokelau, budgeting around NZD 1,200 to NZD 1,500 is reasonable. This estimated budget includes accommodations, meals, activities, and transportation. A typical daily breakdown of expenses in the local currency may look something like this:

• 🍽️ Meal at a local restaurant: NZD 15–25

• ☕ Coffee: NZD 5–8

• 🚌 Public transport fare: NZD 3

• 📱 Prepaid SIM card: NZD 20–30

• 🏨 Budget hotel or Airbnb: NZD 80–120 per night

Overall, Tokelau is relatively inexpensive compared to the United States, where a similar trip might set you back about 20-30% more, especially regarding dining and lodging. Compared to countries like Australia, costs are similar in some areas, particularly for grocery items, but you may find that entertainment is more affordable in Tokelau.

Expat Section: Living in Tokelau

For expats settling into life in Tokelau, it’s useful to know that typical monthly living costs can range from NZD 2,500 to NZD 3,500 depending on lifestyle choices. Standard expenses such as rent, utilities, groceries, and dining out should all be factored in. For banking, it's advisable to use local banks for day-to-day transactions since the availability of international banking services can be limited. Utilizing credit cards is also common, but ensure your card has low foreign transaction fees.

When it comes to transferring money, online services like Wise or OFX generally provide better rates and lower fees compared to local exchange shops. Given the limited options for cash transactions in Tokelau, using a reliable online service for currency exchange or sending money is often a more cost-effective approach than exchanging cash locally.