Currency

Official name: New Zealand dollar

Currency code: NZD

Abbreviation: NZ$

Pegged by: the Cook Island dollar at par

Legal tender in: New Zealand, Cook Islands, Niue, Pitcairn Islands, Tokelau

Subdivided into: 100 cents

Coins: 10c, 20c, 50c, $1, $2

Notes: $5, $10, $20, $50, $100

Central bank: Reserve Bank of New Zealand

Website: www.rbnz.govt.nz

Current exchange rates:

• http://finance.yahoo.com/currency,

• http://www.xe.com, and

• http://www.oanda.com

The Cook Island dollar is also legal tender in the Cook Islands. It is pegged by the New Zealand dollar at par and sub-divided into one hundred cents. The Cook Island dollar is not regulated by a central bank or monetary regulatory agency.

Privacy

At this time the Cook Islands has neither signed a Treaty with the United States nor has it signed a Mutual Legal Assistance Treaty with the US. Moreover, the Cook Islands is not a participant in the European Union Savings Directive. As such, the Cook Islands offers a high level of privacy for both EU and American citizens. Moreover, American investors are able to maintain a high level of asset security thanks to the lack of a Mutual Legal Assistance Treaty between the US and the Cook Islands. Overall, the Cook Islands has shown a strong commitment to maintaining the privacy of its foreign investors.