Cook Islands dollar
| Cook Islands dollar | |
|---|---|
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$3 front
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| ISO 4217 | |
| Code | CKD |
| Denominations | |
| Subunit | |
| 1/100 | cent / tene |
| Symbol | $ |
| cent / tene | c |
| Banknotes | $3, $10, $20, $50 |
| Coins | 10, 20, 50 cents, $1, $2, $5 |
| Demographics | |
| User(s) |
 Cook Islands (New Zealand) (alongside New Zealand dollar) |
| Valuation | |
| Inflation | 2.1% |
| Source | The World Factbook, 2005 est. |
| Pegged with | New Zealand dollar at par |
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The dollar is the currency of the Cook Islands. The dollar is subdivided into 100 cents, although some 50 cent coins carry the denomination as "50 tene".
Until 1967, the New Zealand pound was used on the Cook Islands, when it was replaced by the New Zealand dollar. In 1972, coins were issued specifically for the Cook Islands, with banknotes appearing in 1987. The Cook Islands dollar is pegged at par to the New Zealand dollar. The currency of New Zealand and the Cook Islands circulate concurrently within the country.
Coins have been struck on different occasions mainly by the Royal Australian Mint, the Franklin Mint, and the Perth Mint with the paper currency being printed by De La Rue.
In 1972, bronze 1 and 2 cents, and cupro-nickel 5, 10, 20 and 50 cents, and 1-dollar coins were introduced. All were the same size, weight, and composition as the corresponding New Zealand coins, however, the unique crown-sized dollar coin circulated much more readily than its New Zealand equal. Each coin depicted plants, animals, and items unique to the Cook Islands.
In 1983, production of the 1 and 2-cent coins was ceased and the two coins were later demonetized.
In 1987, a smaller, lighter scallop-edged $1 coin with a similar size and shape to the Hong Kong $2 piece. This coin was issued to replace its bulky predecessor. Along with the new dollar, a triangular $2 coin and a dodecagonal (twelve-sided) $5 piece in equal size and shape to the Australian 50-cent coin were introduced, with the new $1 and $2 composed of cupro-nickel and the $5 coin in aluminium bronze.
2003 saw the reintroduction of a 1-cent coin, this time composed of aluminium rather than bronze and slightly smaller and thicker than the 10-cent piece. These were issued with five different reverses, each commemorating a few of the nation's historical themes.
A large, stainless steel 5 cent coin was issued in 2000 centred on FAO and depicting the Tangaroa image present on the dollar piece.
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Wikipedia