The modernisation of New Zealand's currency and cash distribution
This article discusses the various changes to the currency and cash distribution procedures that have occurred in recent years, together with the more recent decisions to modernise the `silver' coins. Polymer notes, which were introduced in 1999, are found to have proven very durable and cost-effective compared with the older paper notes. The Reserve Bank's move to become a wholesale supplier of currency (ie no longer participating in the daily distribution of cash to the registered banks) has signi?cantly reduced costs in this area. The article explains the recent decision to opt for smaller and lighter `silver' coins and to withdraw the 5 cent coin from circulation, noting that the new coins are expected to bring signi?cant bene?ts for the public.
Volume (Year): 68 (2005)
Issue (Month): (June)
|Contact details of provider:|| Postal: P.O. Box 2498, Wellington|
Phone: 64 4 471-3767
Fax: 64 4 471-2270
Web page: http://www.rbnz.govt.nz
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:nzb:nzbbul:june2005:2. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Reserve Bank of New Zealand Knowledge Centre)
If references are entirely missing, you can add them using this form.