Which central bank has been New Zealand's sole issuer of legal-tender banknotes since 1934?

The Reserve Bank of New Zealand has been New Zealand's sole issuer of legal-tender banknotes since 1934.

The institution was established under the Reserve Bank of New Zealand Act 1933 and began operations in 1934. Before that change, several commercial banks issued notes, creating a less unified currency system. Centralizing note issuance gave the country a single national authority for currency and monetary management.

The Reserve Bank is New Zealand's central bank. Its responsibilities include monetary policy, financial-system oversight, payment-system functions, and the production and distribution of New Zealand currency. It also manages the country's official foreign-exchange reserves.

The phrase “sole issuer” refers to legal-tender notes and coins under the country's currency framework; it does not mean commercial banks cannot provide deposits or electronic payment services. The bank's headquarters are in Wellington.