Recent trends and developments in currency

Release date
01/03/2009
Reference
Vol. 72. No. 1. March 2009
Authors
Alan Boaden; Kristin Langwasser
Main file
This article reviews trends in the use of currency in New Zealand and reports developments of particular interest. The value of currency in circulation continues to grow, but there was an unusual increase in high-denomination notes late in 2008, associated with public nervousness about the state of the financial sector. Our review of the quality of one denomination of banknotes in circulation suggests that they meet our high quality standards, and our checking of the authenticity of bank notes indicates that the rate of counterfeiting is very low by international standards. Finally, coin issuance continues at high rates, most likely as the public are still filling stores of coins at home.