20/03/2020: COVID-19 Pandemic Effects
The outbreak of the COVID-19 pandemic causes global economic turmoil, leading to volatility in the New Zealand dollar exchange rate and GDP contraction.
18/03/2020: COVID-19 pandemic impact
The Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.
13/10/2011: Record high exchange rate
The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.
10/10/2008: Global Financial Crisis Hits New Zealand
New Zealand experiences the impact of the global financial crisis, leading to a sharp depreciation of the New Zealand dollar and economic slowdown.
06/10/2008: Global Financial Crisis
The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.
10/07/2005: Polymer Banknotes Introduced
New Zealand introduces polymer banknotes, replacing the traditional paper notes for increased durability and security.
30/06/1996: Introduction of the polymer banknotes
Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.
05/10/1987: Black Monday Stock Market Crash
Global stock market crash leads to a significant devaluation of the New Zealand dollar and a deep recession in the country.
04/03/1985: Floating Exchange Rate Introduced
New Zealand dollar is allowed to float freely against other currencies, marking the end of fixed exchange rates.
08/03/1983: Floating of the Australian dollar
The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.
12/12/1971: End of the fixed exchange rate
Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.
13/02/1966: Decimalisation of the Australian currency
Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.
10/07/1961: Decimalization of Currency
New Zealand adopts the decimal currency system, replacing the pound with the New Zealand dollar. NZ$1 is equivalent to NZ£2.
19/10/1933: New Zealand Pound Pegged to the British Pound
New Zealand pound is pegged to the British pound at a rate of £1 to NZ£0.624275.