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Cook Islands dollar
From Wikipedia, the free encyclopedia
| Cook Islands dollar | |||
|
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| ISO 4217 Code | none | ||
|---|---|---|---|
| User(s) | Cook Islands | ||
| Inflation | 2.1% | ||
| Source | The World Factbook, 2005 est. | ||
| Pegged by | New Zealand dollar at par | ||
| Subunit | |||
| 1/100 | cent | ||
| Symbol | $ | ||
| cent | c | ||
| Coins | 1c?, 5c?, 10c, 20c, 50c, $1, $2 , $5 | ||
| Banknotes | 3, 5, 10, 20, 50, dollars | ||
| Central bank | ? | ||
The dollar has been the currency of the Cook Islands since 1967. Until 1967, the New Zealand pound was used and then replaced by the New Zealand dollar. In 1972, coins were issued specifically for the Cook Islands, with banknotes appearing in 1987. The dollar is subdivided into 100 cents, although some 50 cent coins carry the denomination as "50 tene". The Cook Islands dollar is pegged at par to the New Zealand dollar.
Cook Islands currency is quite distinctive. The dollar coin has a wavy edge, the two dollar coin is a triangle, and instead of a $5 dollar note, there is an dodecagonal coin. With the reduction in size of the New Zealand 10, 20 and 50 cent piece, the Cook Island equivalent has yet to appear.
From 1987 to 1995, the Cook Islands issued their own banknotes in denominations of $3, $10, and $20. There were two design sets, one issued from 1987 to 1991, and one issued from 1992 to 1995 with the addition of $50. Cook Islanders are showing a preference for New Zealand banknotes, but the Cook Islands notes remain legal tender.
| 1992 Series | ||
|---|---|---|
| Value | Obverse | Reverse |
| $3 |  |
 |
| $10 |  |
 |
| $20 |  |
 |
| $50 | ||