when did new zealand change to decimal currency
New Zealand dollar Switching to decimal currency had been proposed in New Zealand since the 1930s, although only in the 1950s did any plans come to fruition. In 1957, a committee was set up by the Government to investigate decimal currency. The idea fell on fertile ground, and in 1963, the Government decided to decimalise New Zealand currency.[4] The Decimal Currency Act was passed in 1964, setting the date of transition to 10 July 1967.[5] Words such as "fern", "kiwi" and "zeal" were proposed to avoid confusion with the word "dollar", which many people at the time associated with the United States dollar.[6][7] In the end, the word "dollar" was chosen anyway, and an anthropomorphic dollar note cartoon character called "Mr. Dollar" became the symbol of transition in a huge publicity campaign.[8]
National Insurance NI was first introduced by the National Insurance Act 1911 and expanded by the Labour government in 1948. The system was subjected to numerous amendments in succeeding years.
Money supply As of April 2013, the monetary base was $3 trillion[32] and M2, the broadest measure of money supply, was $10.5 trillion.[33]
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Exponentiation Any nonzero number raised to the 0 power is 1:[11]
Economic nationalism While the coining of the term "