RBNZ launches 'What is Money' video

Release date
12 October 2014

The Reserve Bank has today released a video explaining the functions of money and the Reserve Bank's role in producing and protecting it.

The four-minute ‘What is Money' animation forms part of the Reserve Bank's provision of educational material and is a contribution to Money Week. The Reserve Bank Museum and Education Centre is also offering tours for Money Week.

Reserve Bank Deputy Governor and Head of Operations, Geoff Bascand, said the ‘What is Money' video explains what money is and does.

"The video is a useful tool in explaining how money acts as a reliable means of exchange, a unit of account and as a store of value," he said.

"The Reserve Bank plays an important role in the functioning of money. It provides the country's notes and coins and works to keep prices stable. It also promotes, through regulation, the soundness of the institutions where people keep their money (like banks and many finance companies) and the soundness of the payments systems sitting behind the financial system."

View the video.

Community groups, schools, media outlets and organisations promoting financial literacy are encouraged to post a link to the video on their own websites or Facebook pages.

The Reserve Bank Museum and Education Centre tours will provide an explanation of the role the Reserve Bank plays in our economy plus a guided tour of the museum. Visitors will have the opportunity to see the venue where the Official Cash Rate announcements are made by the Governor every six weeks.

For more information about Money Week activities, visit moneyweek.org.nz

Media Contact
Naomi Mitchell
External Communications Adviser
Ph 04 471 3960, 027 485 9474, [email protected]