What is a banknote?
A banknote is a negotiable promissory note which one party can use to pay another party a specific amount of money. Banknotes are considered legal tender; along with coins, they make up the bearer forms of all modern money. A banknote is known as a “bill” or a “note.”
What is on NZ banknotes?
$100
$20$10$50$5
New Zealand dollar/Banknotes
What is the New Zealand currency called?
New Zealand dollarNew Zealand / CurrencyThe New Zealand dollar is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. Wikipedia
What is an example of a bank note?
Some examples are plate proof banknote, test notes, educational notes, replica banknotes, and hell banknotes (which are commonly found in Asian countries. They are burnt in rituals to send money to the dead).
Why is money called notes?
The perception of banknotes as money has evolved over time. Originally, money was based on precious metals. Banknotes were seen by some as an I.O.U. or promissory note: a promise to pay someone in precious metal on presentation (see representative money).
What does a NZ $100 note look like?
Under UV light a fluorescent patch will appear showing “100”, the denomination of the note. The note has a see-through window in the shape of fern on the left and an oval-shaped window on the right.
Is there a $500 NZ note?
New Zealand has two sets of banknotes in circulation – Series 6 and the new Series 7. Both series are legal tender. Both sets have five denominations: the $5, $10, $20, $50 and $100 banknote.
How do you write NZ dollars?
The currency code for the New Zealand dollar is NZD. Its symbol is usually written as $, and sometimes NZ$ is used to distinguish it from other currencies that use the same sign. Informal nicknames for the New Zealand dollar are ‘kiwi’ and ‘buck’.
Who makes NZ money?
Canadian Bank Note Company
Printing. New Zealand’s new Series 7 banknotes are printed by Canadian Bank Note Company in Ottawa, Canada. Series 6 polymer banknotes were produced by Note Print Australia Limited in Melbourne. Both sets of notes have been printed on the same polymer substrate.
Is a banknote the same as cash?
Today, banknotes are typically synonymous with cash. In the U.S., banknotes usually make their way into circulation via the Federal Reserve. Historically, banknotes were backed by and could be exchanged for precious metals such as gold and silver.
Is bank note a promissory note?
Note be made that a bank note or a currency note don’t qualify as promissory notes. A promissory note is a Negotiable Instrument as covered under the Negotiable Instruments Act of 1881. Section 21 of the Indian Currency Act stipulates that a currency note is not a promissory note.
Who issues banknotes in New Zealand?
The sole issuer of New Zealand banknotes is the Reserve Bank of New Zealand, which was established on August 1, 1934. The first pound banknotes issued by the Reserve Bank had one design, with different denominations having different colors.
What is on the front and back of a New Zealand note?
The front and back of the banknote have raised ink that can be felt. On the front of the banknote, the large number, the portrait and the words “Reserve Bank of New Zealand Te Pūtea Matua” are raised; on the back, the large number, the featured bird and the words “New Zealand” and “Aotearoa” are raised.
What is the abbreviation for New Zealand dollar?
New Zealand dollar banknotes are the banknotes in circulation in New Zealand, the Cook Islands, Tokelau, Niue and the Pitcairn Islands, denominated in the New Zealand dollar (symbol: $; ISO 4217 currency code NZD, also abbreviated NZ$). They are issued by the Reserve Bank of New Zealand and since 1999 have been made of polymer.
What is the history of the New Zealand dollar note?
This first series of New Zealand dollar notes all featured the photograph of Queen Elizabeth II by Anthony Buckley on the obverse side and different birds and plants on the reverse side. In 1981, the Reserve Bank changed their banknote printer from De La Rue to Bradbury, Wilkinson & Company.