Thursday, July 28, 2011

Kiwi financial terms

Our discussion of US currency in class the other day reminded me of some NZ terms. Instead of "stock market," they say "share market." It is, after all, where you buy shares of a company, and -- because it is an agricultural country -- there are probably still plenty of stock markets where livestock is bought and sold. (Etymology of share: Old English, scearu, division, from Germanic). Since the national currency is the New Zealand dollar, they need to distinguish it from other "dollar" currencies, so they usually refer to the US dollar as the "greenback. (We all know why.) No one in NZ has any idea what I mean when I say "buck," as in, "I spent five bucks for that book." Increasingly, in financial reports, they talk about the "redback," by which they mean the Chinese currency -- called the yuan or the renminbi, because the Chinese bills are usually red in color (and most have a picture of Chairman Mao on them.)

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