How does money work? New Reserve Bank cartoon explains

Name: Money Week: What is Money?
Uploaded: 2014-10-13T11:20:54+13:00
Duration: 244 s
Description: The RBNZ has prepared a short animated video about how money works - its functions and the role the Reserve Bank plays in it.

NZ Herald

12 Oct, 2014 11:05 PM2 mins to read

The RBNZ has prepared a short animated video about how money works - its functions and the role the Reserve Bank plays in it.

The Reserve Bank has released an a new animated educational video explaining the functions of money in New Zealand.

The four-minute clip is part of a push to improve the financial literacy of kiwis during the Money Week campaign, which began today.

Reserve Bank deputy governor Geoff Bascand said the video was a useful tool in explaining how money acts as a reliable means of exchange, a unit of account and as a store of value.

"The Reserve Bank plays an important role in the functioning of money. It provides the country's notes and coins and works to keep prices stable."

"It also promotes, through regulation, the soundness of the institutions where people keep their money and the soundness of the payments systems sitting behind the financial system," Bascand said.

The theme for this year's Money Week is getting New Zealanders' finances in 'fighting fit' shape and offers seminars and investment planning.

Check out the events running in your area here.