The Reserve Bank of New Zealand, whose main function is to implement Government monetary policy according to annual directives, supervises New Zealand's banking system. It also registers and supervises other banks.
New Zealand has an open door policy on bank registration. There are several major trading banks and numerous other banking institutions. Many of the big international banks are represented in New Zealand through agents or sales offices.
Currency
Since 1967 the currency used in New Zealand has been the New Zealand dollar, which replaced the New Zealand pound.
For more information about New Zealand's currency and fiscal policy, see the Reserve Bank of New Zealand website.
To calculate foreign exchange rates, see the XE Universal Currency Converter.
