Currency in Tokelau NZD - Things to know
Foreign exchange guide to Tokelau and the New Zealand dollar
What's in this Tokelau currency guide?
What currency is used in Tokelau?
The official currency of Tokelau (country code: TK) is the New Zealand dollar, with symbol NZ$ and currency code NZD.
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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.
Travel money for Tokelau
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.
Travel Ideas and Money Tips for Tokelau
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.
USD/NZD Market Data
The below interactive chart displays the USD/NZD change and UP📈 DOWN📉 trends over the past 1 Year.
Frequently Asked Questions
What currency should I use in Tokelau?
The domestic currency in Tokelau is the New Zealand dollar.
What is the New Zealand dollar currency code and symbol?
The three letter currency code for the New Zealand dollar is NZD — symbol is NZ$.
Which countries use the New Zealand dollar?
It is the domestic currency in New Zealand, Cook Islands, Niue, Pitcairn and Tokelau.
Is the New Zealand dollar a closed currency?
No, the New Zealand dollar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and NZD?
Here are some popular conversion amounts for USD to NZD (US dollar to New Zealand dollar)*.
| USD | NZD |
|---|---|
| $ 607.30 | NZ$ 1,000 |
| $ 3,037 | NZ$ 5,000 |
| $ 12,146 | NZ$ 20,000 |
| $ 60,730 | NZ$ 100,000 |
More amounts
*Converted at the current USDNZD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Send Money to Tokelau - Best Rates
To get a good (and fair) exchange rate when sending money to Tokelau 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.
Get a better deal for foreign transfers to Tokelau
When sending money to Tokelau 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 :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or New Zealand dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted NZD amount will be transfered to the recipient account you specify in Tokelau.
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!