The dollar was the currency of the colony and Dominion of Newfoundland from 1865 until 1949, when Newfoundland became a province of Canada. It was subdivided into 100 cents.
It was valued at first as being slightly higher than the Canadian dollar
Newfoundland was unique in the British Empire in that it was the only part to introduce its own gold coin in conjunction with its gold standard. Newfoundland two dollar coins were minted intermittently until the Newfoundland banking crash of 1894.
In 1895, following this banking crisis, the Canadian banks moved into Newfoundland and the value of the Newfoundland dollar was adjusted to set it equal to the Canadian dollar, a devaluation of 1.4%.