Central Banking

New Zealand's new coins introduced on 31 July

The Reserve Bank of New Zealand announced Monday 20 February that New Zealand's new 50, 20 and 10 cent coins will be introduced on 31 July 2006.

The new coins will be smaller and lighter than the existing coins. The coins will retain the same designs, and the 10 cent coin will be copper-coloured. The $1 and $2 coins will not change.

"There will be a transition period of three months, from 31 July 2006 to 31 October 2006; during which time both old and new coins can be used. From 1 November 2006