The Chatham Islands dollar is a very inofficial currency unit of a small group of islands, which belong to New Zealand. The Reserve Bank of New Zealand authorized a private organization, the Chatham Islands Note Corporation, to issue banknotes to celebrate that the Chatham Islands would have been the first land to enter the third millennium of the common era. The Reserve Bank of New Zealand gave this authorization under the condition that such notes cannot be declared legal tender. There was no obligation for anyone to accept the notes issued by the Chatham Islands, contrarily to the notes issued by the Reserve Bank of New Zealand. These Chatham Islands notes were generally accepted by merchants on the Chatham Islands. 1 dollar equals 100 cents.