It was only in 2000 that our dollar was at 39 cents US and we joked about it being the pacific peso.
The New Zealand dollar was initially pegged to the US dollar at US$1.62 = NZ$1. This rate changed on 21 November of the same year to US$1.12 = NZ$1 after the devaluation of the British pound (see Bretton Woods system), although New Zealand devalued more than the UK.
In 1971 the US devalued its dollar relative to gold, leading New Zealand on 23 December to peg its dollar at US$1.216 with a 4.5% fluctuation range, keeping the same gold value. From 9 July 1973 to 4 March 1985 the dollar's value was determined from a trade-weighted basket of currencies.
The NZ$ was floated on 4 March 1985 at the initial rate of US$0.4444. Since then the dollar's value has been determined by the financial markets, and has been in the range of about US$0.39 to 0.88.
The dollar's post-float minimum average daily value was US$0.3922 on 22 November 2000, and it set a post-float maximum on 22 July 2011 of US$0.8666. Much of this medium-term variation in the exchange rate has been attributed to differences in interest rates.
The New Zealand dollar's value is often strongly affected by currency trading, and is among the 10 most-traded currencies.
On 11 June 2007 the Reserve Bank sold an unknown amount of New Zealand dollars in an attempt to drive down its value. This is the first intervention in the markets by the Bank since the float in 1985.
Two suspected interventions followed, but they were not as successful as the first: the first appeared to be initially effective, with the dollar dropping to approximately US$0.7490 from near US$0.7620. However, within little more than a month it had risen to new post-float highs, reaching US$0.8103 on 23 July 2007.
After reaching its post-float record high in early 2008, the value of the NZ$ plummeted throughout much of the 2nd half of 2008 and the first quarter of 2009 as a response to the global economic downturn and flight by investors away from "riskier" currencies such as the NZ$. The NZ$ bottomed out at approximately US$0.50 on 6 March 2009. However, it rebounded strongly as the year progressed, reaching the US$0.75 range by November 2009.
Phil. Check out House of Custom's, website. He is based in Paeroa. He sells a combo set, front or rear. Just change the top hoop. All the hooks etc. it looks like its made in Europe. I got the stand and rear spools/bobbins for 97.00. Real cheap for what it is and does. Works a treat. The stand works from the rear so you should clear your mufflers. He sells via Trademe as well. Your bike looks sharp. Thank your lucky stars it's not to damaged.
Oh? It's a stand? I thought you were trying to attach some training wheels. Just kiddin'. Yes, I am sure you uttered "Oh, crap!"
Funny how bike was sitting on training wheels and all i could think about after liftting it back up and that could of been when i broke abs wires was to go into the house a get my camera. Hind sight is a great thing but once it was on the ground i should of removed the left hand side of the stand as it un bolt's.