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Encyclopedia > New Zealand dollar
New Zealand dollar
$100 $2
$100 $2
ISO 4217 Code NZD
User(s) New Zealand, Cook Islands, Niue, Pitcairn Islands, Tokelau
Inflation 2.6% (New Zealand only)
Source Reserve Bank of New Zealand, December 2006
Pegged by Cook Islands dollar at par
Subunit
1/100 cent
Symbol $
cent c
Nickname kiwi
Coins 10c, 20c, 50c, $1, $2
Banknotes $5, $10, $20, $50, $100
Central bank Reserve Bank of New Zealand
Website www.rbnz.govt.nz

The dollar (currency code NZD) is the currency of New Zealand. It also circulates in the Cook Islands (see also Cook Islands dollar), Niue, Tokelau, and the Pitcairn Islands. It is normally abbreviated with the dollar sign $, or alternatively NZ$ to distinguish it from other dollar-denominated currencies. It is often informally known as the "Kiwi (dollar)" and is divided into 100 cents. Image File history File links File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Photographed by me. ... A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... The dollar has been the currency of the Cook Islands since 1967. ... A two-cent euro coin A United States penny, or 1¢ In currency, the cent is a monetary unit that equals 1/100 of the basic unit of value. ... $ The dollar sign ($) is a symbol primarily used to indicate a unit of currency. ... A two-cent euro coin A United States penny, or 1¢ In currency, the cent is a monetary unit that equals 1/100 of the basic unit of value. ... The New Zealand 20 cent coin is the second lowest denomination coin of the New Zealand dollar. ... The Reserve Bank of New Zealand is the central bank of New Zealand. ... The dollar has been the currency of the Cook Islands since 1967. ... $ The dollar sign ($) is a symbol primarily used to indicate a unit of currency. ... United States one-dollar bill Canadian one-dollar coin (Loonie) One New Taiwan dollar Australian one-dollar coin 500 old Zimbabwean dollars The dollar (often represented by the dollar sign: $) is the name of the official currency in several countries, dependencies and other regions. ... A two-cent euro coin A United States penny, or 1¢ In currency, the cent is a monetary unit that equals 1/100 of the basic unit of value. ...

Contents

History

In 1967, the dollar replaced the New Zealand pound at a rate of 2 dollars = 1 pound when the country decimalised its currency. It was initially pegged to the US dollar at a rate of US$1.39 = NZ$1. This rate changed on November 21 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 to a greater extent than the U.K.[1] The New Zealand pound was the legal tender currency of New Zealand prior to decimalization in 1967. ... In the management of currencies, decimalisation (or decimalization) is the process of converting from traditional denominations to a decimal system, usually with two units differing by a factor of one hundred. ... The United States dollar is the official currency of the United States. ... Wikipedia does not have an article with this exact name. ... The United Kingdom of Great Britain and Northern Ireland is a country in western Europe, and a member of the European Union. ...


In 1971, the U.S.A. devalued its dollar relative to gold, leading New Zealand to peg its dollar at a value of US$1.216 with a 4.5% fluctuation range on 23 December (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. Since 4 March 1985 the dollar's value has been determined by the financial markets, and has been in the range of about 0.39–0.76 United States dollars. The dollar's most recent minimum average daily value was 0.3922 U.S. dollars on 22 November 2000, and its most recent maximum was 0.7642 U.S. dollars on 21 June 2007. Much of this medium-term variation in the exchange rate has been attributed to differences in interest rates. For other uses, see United States (disambiguation) and US (disambiguation). ... December 23 is the 357th day of the year (358th in leap years) in the Gregorian calendar. ... July 9 is the 190th day of the year (191st in leap years) in the Gregorian calendar, with 175 days remaining. ... Year 1973 (MCMLXXIII) was a common year starting on Monday (link will display full calendar) of the 1973 Gregorian calendar. ... March 4 is the 63rd day of the year (64th in leap years) in the Gregorian calendar. ... Year 1985 (MCMLXXXV) was a common year starting on Tuesday (link displays 1985 Gregorian calendar). ... March 4 is the 63rd day of the year (64th in leap years) in the Gregorian calendar. ... Year 1985 (MCMLXXXV) was a common year starting on Tuesday (link displays 1985 Gregorian calendar). ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, Cambodia, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ... November 22 is the 326th day (327th on leap years) of the year in the Gregorian calendar. ... 2000 (MM) was a leap year starting on Saturday of the Gregorian calendar. ... June 21 is the 172nd day of the year (173rd in leap years) in the Gregorian calendar. ... 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ...


On June 11, 2007, the Reserve Bank sold an unidentified 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. It appeared to be initially effective: the dollar dropped to approximately 0.7490 U.S. dollars from near 0.7620 U.S. dollars. Within two weeks, however, it had risen to new post-float highs. June 11 is the 162nd day of the year (163rd in leap years) in the Gregorian calendar. ... 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... The Reserve Bank of New Zealand is the central bank of New Zealand. ...


Coins

This article concerns the Coins of the New Zealand Dollar. ...

History

In 1967, coins were introduced for 1, 2, 5, 10, 20 and 50 cents. The 1 and 2 cent coins were minted in bronze, with the other denominations in cupro-nickel. The 5, 10 and 20 cents were the same size as the earlier, equivalent 6 pence, 1 shilling and 1 florin. Indeed, until 1970, the 10 cents coin bore the additional legend "One Shilling". The obverse designs of all the coins featured Arnold Machin's portrait of Elizabeth II, with the legend ELIZABETH II NEW ZEALAND [date]. The reverse sides of coins introduced in 1967 did not follow the designs that were originally indended for them. Those modern art and sculpture themed designs were leaked to a newspaper and met a very negative public reaction. The final releases were given more conservative designs in line with public expectations. Arnold Machin (30 September 1911 _ 9 March 1999) was a British artist, sculptor, coin and stamp designer. ... Elizabeth II in an official portrait as Queen of Canada (on the occasion of her Golden Jubilee in 2002, wearing the Sovereigns badges of the Order of Canada and the Order of Military Merit) Her Majesty Queen Elizabeth II (Elizabeth Alexandra Mary) (born 21 April 1926), styled HM The... Dejeuner sur lHerbe by Pablo Picasso At the Moulin Rouge: Two Women Waltzing by Henri de Toulouse-Lautrec, 1892 The Scream by Edvard Munch, 1893 I and the Village by Marc Chagall, 1911 Fountain by Marcel Duchamp, 1917 Campbells Soup Cans 1962 Synthetic polymer paint on thirty-two... A sculpture is a three-dimensional object, which for the purposes of this article is man-made and selected for special recognition as art. ...


In 1986, New Zealand adopted Raphael Maklouf's new portrait of the Queen on all its coins. The 1 and 2 cent coins were last minted for circulation in 1987, with collector coins being made for 1988. The coins were demonetised on 1 May 1990. The lack of 1 and 2 cent coins meant that cash transactions were normally rounded to the nearest 5 cents (10 cents as of 2006), a process known as Swedish rounding. Some larger retailers (notably one supermarket chain), in the interests of public relations, elected to round the total price down (so that $4.99 became $4.95 instead of $5.00). Alternatively, many retailers rounded all their prices to the nearest 5 cents to avoid the issue entirely — so a New Zealand shopper often encountered products for sale at prices like $4.95. Raphael Maklouf (born 10 December 1937) is a sculptor, best known for designing the effigy of Queen Elizabeth used on Commonwealth coinage from 1985 to 1997. ... May 1 is the 121st day of the year in the Gregorian calendar (122nd in leap years). ... Year 1990 (MCMXC) was a common year starting on Monday (link displays the 1990 Gregorian calendar). ... Swedish rounding is a method by which money is rounded from a given minimal unit to the closest larger unit represented by physical currency. ...


In 1990, aluminium-bronze 1 and 2 dollar coins were introduced to replace existing $1 and $2 notes. In 1999, Ian Rank-Broadley's portrait of the Queen was introduced and the legend rearranged to read NEW ZEALAND ELIZABETH II. Ian Rank-Broadley (born 1952) is a British sculptor who has produced many acclaimed works, among which are several designs for British coinage. ...


On 11 November 2004, the Reserve Bank announced that it proposed to take the 5¢ coin out of circulation and to make the existing 50, 20 and 10 cent coins smaller and use plated steel to make them lighter. After a three-month public submission period that ended on 4 February 2005, the Reserve Bank announced on 31 March it would go ahead with the proposed changes. The changeover period started on 31 July 2006, with the old coins usable up until 31 October 2006. The older 50, 20, 10 and 5 cent pieces are now no longer legal tender, but are still redeemable at the Reserve Bank. November 11 is the 315th day of the year (316th in leap years) in the Gregorian calendar, with 50 days remaining. ... shelby was here 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... is the 35th day of the year in the Gregorian calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... March 31 is the 90th day of the year in the Gregorian calendar (91st in leap years), with 275 days remaining. ... July 31 is the 212th day of the year (213th in leap years) in the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ... October 31 is the 304th day of the year (305th in leap years) in the Gregorian calendar. ... For the Manfred Mann album, see 2006 (album). ...


Current circulating coins

Image Value Diameter Weight Edge Design Issued
10c 20.50 mm 3.30 g Plain Features a Māori koruru, or carved head. 2006
20c 21.75 mm 4.00 g "Spanish Flower", seven plain sections separated by indents. Māori carving of Pukaki, a chief of the Ngati Whakaue iwi[2] 2006
50c 24.75 mm 5.00 g Plain James Cook's HM Bark Endeavour 2006
$1 23 mm 8 g Eight equal segments alternating between reeding and plain edge. Kiwi and Silver Fern. 1990
$2 26.5 mm 10 g Reeded with an indented, plain channel containing ten raised dots. Kotuku (Great Egret) 1990

Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... The New Zealand 20 cent coin is the second lowest denomination coin of the New Zealand dollar. ... Iwi (pronounced ee-wee) are the largest everyday social units in Māori society. ... Image File history File links No higher resolution available. ... Photographed by me. ... Species See text. ... Headline text {{Taxobox | color = lightgreen | name = Silver Fern | status = Conservation status: Secure | image = Silver Fern. ... Photographed by me. ... Binomial name Ardea alba Linnaeus, 1758 The Great White Egret, White Heron, Common Egret or Great Egret (Ardea alba) is a wading egret, found in most of the tropical and warmer temperate parts of the world, although it is very local in southern Europe and Asia. ...

Banknotes

In 1967, notes were introduced by the Reserve Bank of New Zealand in denominations of 1, 2, 5, 10, 20 and 100 dollars. 50 dollar notes were added in 1983, whilst 1 and 2 dollar notes were discontinued in 1991. The first two series of notes (1967-81 and 1981-92) differed only in the portrait of the Queen featured on the obverse. The reverses all depicted native birds and plants: The Reserve Bank of New Zealand is the central bank of New Zealand. ...

Value Native Bird Native Plant
$1 Piwakawaka (Rhipidura fulginosa) New Zealand clematis (Clematis paniculata)
$2 Titipounamu (Acanthisitta chloris) Mistletoe (Peraxilla tetrapetala)
$5 Tui (Prosthermadera novaeseelandiae) Kowhai (Sophora microphylla)
$10 Kea (Nestor notabilis) Mount Cook lily (Ranunculus lyallii)
$20 Kereru (Hemiphaga novaeseelandiae) Miro (Prumnopitys ferruginea)
$50 Morepork (Ninox novaeseelandiae) Pohutukawa (Metrosideros excelsa)
$100 Takahe (Porphyrio mantelli) Pekapeka (Celmisia gracilenta)

A new series of notes was introduced from 1992. Except for the 20 dollar note, the portrait of the Queen was dropped. However, when held up to the light an image of the Queen is visible on all notes. Binomial name Rhipidura fuliginosa Sparrman, 1787 The Grey Fantail (Rhipidura fuliginosa) is a small insectivorous bird. ... Species See text. ... Binomial name Acanthisitta chloris (Sparrman, 1787) For other uses, see Rifleman (disambiguation) // The Rifleman (Acanthisitta chloris), or Tītitipounamu in Māori is a passerine bird that is endemic to New Zealand. ... Families Santalaceae (Viscaceae) Loranthaceae Misodendraceae Mistletoe Viscum album is a plant parasitic on the branches of a tree or shrub. ... Tui can refer to: the Tui bird, endemic to New Zealand. ... Species References: ITIS 26957 Kowhai is a small woody legume tree native to New Zealand. ... Binomial name Nestor notabilis Gould, 1856 The Kea (Nestor notabilis) is a highly unusual species of parrot found in forested and alpine regions of the South Island of New Zealand. ... Binomial name Ranunculus lyallii Hook. ... Binomial name Hemiphaga novaeseelandiae (Gmelin, 1789) The Kereru or New Zealand Pigeon (Hemiphaga novaeseelandiae novaeseelandiae) is an endemic native bird of New Zealand and the Chatham Islands. ... Miro may refer to: Prumnopitys ferruginea, or Miro, an evergreen coniferous tree endemic to New Zealand Miro, electronic dance band original from Denmark see Miromusic Portia tree, sometimes known as Miro, a small tree or arborescent shrub Miro (Enders Game), a character in the Enders Game series by... Binomial name Ninox novaeseelandiae ( Gmelin, 1788) The Southern Boobook (Ninox novaeseelandiae) is a small brown owl found mainly in New Zealand and the more fertile and temperate parts of Australia. ... Binomial name Metrosideros excelsa Gaertner Pohutukawa in flower Also known as New Zealand Christmas Tree or Fire Tree, the Maori named Pohutukawa (Metrosideros excelsa, synonym Metrosideros tomentosa) is an evergreen tree of the myrtle family that produces flowers made up of a mass of red stamens (sometimes yellow). ... Binomial name Porphyrio mantelli Owen, 1848 The Takahē, Porphyrio mantelli is a flightless bird native to New Zealand which belongs to the rail family. ...

Image Value Obverse Reverse
Image:NewZealandFiveDollarNote2.png $5 Sir Edmund Hillary Hoiho
Image:NewZealandTenDollarNote1.png Image:NewZealandTenDollarNote2.png $10 Kate Sheppard Whio
Image:NewZealandTwentyDollarNote1.png Image:NewZealandTwentyDollarNote2.png $20 Queen Elizabeth II Karearea
Image:NewZealandFiftyDollarNote1.png Image:NewZealandFiftyDollarNote2.png $50 Sir Apirana Ngata Kōkako
Image:NewZealandHundredDollarNote1.png Image:NewZealandHundredDollarNote2.png $100 Lord Rutherford of Nelson Mohua

New Zealand Five Dollar Note, obverse (image from Reserve Bank, free use) File links The following pages link to this file: New Zealand dollar Categories: Currency images ... New Zealand Five Dollar Note, reverse (image from Reserve Bank, free use) File links The following pages link to this file: New Zealand dollar Categories: Currency images ... Sir Edmund Percival Hillary, KG, ONZ, KBE (born 20 July 1919) is a New Zealand mountaineer and explorer. ... Binomial name Megadyptes antipodes (Hombron & Jacquinot, 1841) The Yellow-eyed Penguin (Megadyptes antipodes) or Hoiho is a penguin found in New Zealand, on the south-east coast of South Island, Foveaux Strait and Stewart Island/Rakiura, and Auckland and Campbell Islands. ... New Zealand Ten Dollar Note, obverse (image from Reserve Bank, free use) File links The following pages link to this file: New Zealand dollar Categories: Currency images ... New Zealand Ten Dollar Note, reverse (image from Reserve Bank, free use) File links The following pages link to this file: New Zealand dollar Categories: Currency images ... Katherine Wilson Sheppard (10 March 1848 – 13 July 1934) was the most prominent member of New Zealands womens suffrage movement, and is the countrys most famous suffragette. ... Stamp issued by New Zealand depicting a Blue Duck Binomial name Hymenolaimus malacorhynchus (Gmelin, 1789) Subspecies (South Island Blue Duck) (North Island Blue Duck) The Blue Duck (Hymenolaimus malacorhynchus) is a member of the duck, goose and swan family Anatidae. ... New Zealand Twenty Dollar Note, obverse (image from Reserve Bank, free use) File links The following pages link to this file: New Zealand dollar Categories: Currency images ... New Zealand Twenty Dollar Note, reverse (image from Reserve Bank, free use) File links The following pages link to this file: New Zealand dollar Categories: Currency images ... Elizabeth II in an official portrait as Queen of Canada (on the occasion of her Golden Jubilee in 2002, wearing the Sovereigns badges of the Order of Canada and the Order of Military Merit) Her Majesty Queen Elizabeth II (Elizabeth Alexandra Mary) (born 21 April 1926), styled HM The... Binomial name Falco novaeseelandiae Gmelin, 1788 The Karearea, or New Zealand Falcon, Falco novaeseelandiae, is New Zealands only native falcon, and is frequently mistaken for the larger and more common Swamp Harrier. ... New Zealand Fifty Dollar Note, obverse (image from Reserve Bank, free use) File links The following pages link to this file: New Zealand dollar Categories: Currency images ... New Zealand Fifty Dollar Note, reverse (image from Reserve Bank, free use) File links The following pages link to this file: New Zealand dollar Categories: Currency images ... Apirana Ngata The Honourable Sir Apirana Turupa Ngata (3 July 1874 - 14 July 1950) was a prominent New Zealand politician and lawyer. ... Binomial name Callaeas cinerea (Gmelin, 1788) The Kōkako (Callaeas cinerea) is a forest bird which is endemic to New Zealand. ... New Zealand Hundred Dollar Note, obverse (image from Reserve Bank, free use) File links The following pages link to this file: New Zealand dollar Categories: Currency images ... New Zealand Hundred Dollar Note, reverse (image from Reserve Bank, free use) File links The following pages link to this file: New Zealand dollar Categories: Currency images ... Ernest Rutherford Ernest Rutherford, 1st Baron Rutherford of Nelson, PC, OM, FRS (August 30, 1871 – October 19, 1937), was a New Zealand nuclear physicist. ... Binomial name Mohua ochrocephala ?, ? The Yellowhead or Mohua (Mohua ochrocephala) is a small insect-eating bird that is endemic to New Zealands South Island. ...

Polymer banknotes

A New Zealand $100 polymer banknote, replacement of the old paper notes. The beige-coloured oval and fern are actually transparent panels.
An old paper $100 note.

New Zealand notes, since 1999, have been produced as plastic polymer banknotes instead of conventional paper. There was a slight controversy, but this move was mostly met with curiosity by the public. Such polymer notes have many advantages, notably a photocopy can effortlessly be distinguished from the real thing by touch, and many people have been thankful that the notes go through a washing machine with no ill effects. The notes are also difficult to tear without the aid of a cutting tool, but will tear more easily than the paper notes if a tear is started. Initial versions of the polymer $5 note had issues with the ink wearing and ageing prematurely, but this was rectified in later production runs. Image File history File links File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Image File history File links Size of this preview: 800 × 379 pixel Image in higher resolution (912 × 432 pixel, file size: 101 KB, MIME type: image/jpeg)Yellow mohua File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Old paper design of the $NZ100 note File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Year 1999 (MCMXCIX) was a common year starting on Friday (link will display full 1999 Gregorian calendar). ... This article or section does not cite any references or sources. ... The first Guardian polymer banknote in circulation. ... Front-loading washing machine. ...


The Reserve Bank expects polymer notes to last at least four times as long as the old bank notes. They also have vastly improved security features and are very difficult to counterfeit.


Millennium $10 note

The millennium $10 note

A special millennium version of the $10 note was issued in 2000. It had security features never used before, and like other New Zealand banknotes, it was made of polymer. Image File history File links Millennium_tenner. ... Image File history File links Millennium_tenner. ... 2000 (MM) was a leap year starting on Saturday of the Gregorian calendar. ...


Damaged notes

The Reserve Bank accepts all New Zealand currency for payment at face value. This applies to all demonetised or withdrawn currency, however such currency need not be accepted by money changers as this is no longer legal tender. All decimal notes are legal tender except $1 and $2 notes as these have been withdrawn.


Damaged notes are still usable so long as they are recognisable. In particular, the legibility of the note's serial numbers is important. The Reserve Bank website notes that as a rule of thumb if there is more than half a bank note they will pay its full value. To receive payment people have to turn in the note to the Reserve Bank in Wellington or any bank. Explaining Currency


Banknote Trivia

  • The $5 note is the only note to have a special object in the bottom left-hand corner.
  • The signature of ex NZ Reserve Bank Governor Don Brash still appears on some older notes (Alan Bollard's appears on newer notes).
  • The letters "RBNZ" are printed along the bottom of all New Zealand banknotes. They run along specific parts of each note and are only just visible to the naked eye.
Current NZD exchange rates
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Dr Donald Thomas Brash (born 24 September 1940), New Zealand politician, served as the Leader of the Opposition and parliamentary leader of the National Party, the countrys main Opposition party from 28 October 2003 to 27 November 2006. ... There are very few or no other articles that link to this one. ...

See also

// Economic Profile Since 1984 the government of New Zealand has accomplished major economic restructuring, moving an agrarian economy dependent on concessionary British market access toward a more industrialized, free market economy that can compete globally. ...

References

  1. ^ Global Financial Data. New Zealand Dollar (USD per NZD). Retrieved on 2007-05-21.
  2. ^ Tim Watkin, Figure of unity, NZ Listener, November 13-19 2004, Vol 196, No 3366. Accessed 2007-06-14.

2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... May 21 is the 141st day of the year (142nd in leap years) in the Gregorian calendar. ... 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era. ... June 14 is the 165th day of the year (166th in leap years) in the Gregorian calendar. ...

External links

Preceded by:
New Zealand pound
Reason: decimalisation
Ratio: 2 dollars = 1 pound
Currency of New Zealand
July 10, 1967
Succeeded by:
Current

  Results from FactBites:
 
New Zealand dollar - Wikipedia, the free encyclopedia (2734 words)
The New Zealand dollar (currency code NZD) is the currency of New Zealand, the Cook Islands, Niue, Tokelau, and the Pitcairn Islands since 1967.
The NZ one dollar is the size of the Australian two, and the two dollar the size of the australian one.
On 10 July 1967, New Zealand decimalised its currency by introducing the New Zealand dollar, at the rate of $2 per £1.
New Zealand - Wikipedia, the free encyclopedia (5049 words)
New Zealand was initially administered as a part of the colony of New South Wales, and it became a separate colony in November 1840.
New Zealand was involved in a Constitutional Convention in March 1891 in Sydney, New South Wales, along with the Australian colonies.
New Zealand is the only country in the world in which all the highest offices in the land are occupied by women - The Sovereign Queen Elizabeth II of New Zealand, Governor-General Dame Silvia Cartwright, Prime Minister Helen Clark, Speaker of the New Zealand House of Representatives Margaret Wilson and Chief Justice Dame Sian Elias.
  More results at FactBites »

 
 

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