NZD New Zealand Dollar Latest News, Analysis and Forex Trading Forecast

Our currency rankings show that the most popular New Zealand Dollar exchange rate is the NZD to USD rate. The currency code for Dollars is NZD, and the currency symbol is $. Below, you’ll find New Zealand Dollar rates and a currency converter. These are the average exchange rates of these two currencies for the last 30 and 90 days. You can exchange foreign currency for New Zealand currency at banks, some hotels and Bureau de Change kiosks, which are in international airports and most city centres.

  • New Zealand is one of the world’s biggest exporters of whole milk powder.
  • Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018.
  • Other economic factors, such as growth rate, GDP, unemployment, and inflation are strong and, therefore, lead to a strong currency.
  • Altogether it has five coins and five banknotes with the smallest being the 10-cent coin; smaller denominations have been discontinued due to inflation and production costs.
  • The New Zealand dollar also circulates in the Cook Islands, Niue, Tokelau, and the Pitcairn Islands.

The figures reached their lowest level in four months, reflecting the impact of rising interest rates and political uncertainty. In August, Building Permits came in at 1.541M from the previous month’s figure of 1.44M. The House Price Index for July increased to 0.8% MoM from 0.4% in the prior reading, exceeding the consensus estimate of 0.5%.

The author has not received compensation for writing this article, other than from FXStreet. GBP drops after a softer CPI reading scares investors about the BoE intentions. JPY on the lookout for further policy tweaks from Governor Ueda. EUR/USD is currently testing a key support level after the Federal Reserve indicated a potential extension of higher interest rates. USDJPY’s powerful long-term uptrend has been reignited after last week’s sharply contrasting policy statements from the Federal Reserve and Bank of Japan. All goods and services in New Zealand are subject to a Goods and Services Tax (GST) of 15%, which is included in the displayed price.

As volatility rose, investors unwound these carry trades, and the NZD was one of many high-yielding currencies that fell during 2008 and 2009. The NZD/USD is also affected by factors that influence the value of the New Zealand dollar and/or the U.S. dollar in relation to each other and other currencies. The interest rate differential between the Reserve Bank of New Zealand and the U.S. Federal Reserve (Fed) will affect the value of these currencies when compared to each other. Agriculture is a major factor in the New Zealand economy; more than two-thirds of the exports are agricultural. New Zealand is the world’s biggest exporter of whole milk powder.

There is no restriction on the amount of foreign currency that can be brought in or taken out of New Zealand. However, every person who carries more than NZ$10,000 in cash in or out of New Zealand is required to complete a Border Cash Report(opens in new window). Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018.

What Is the NZD (New Zealand Dollar)?

In history, the New Zealand dollar usually weakened in the week following the election due to uncertainties. Since 2008, the Kiwi dollar only strengthened against the US dollar in the first week after the National won election in 2011. The dollar weakened straight after the election day for the rest of the past seven elections. A new series of notes, known as Series 5 was introduced in 1992.

This is the first intervention in the markets by the Bank since the float in 1985. The New Zealand dollar is considered a carry trade currency in that it is a relatively high yielding currency. Because of this, investors will often buy the NZD and fund it with a lower yielding currency such as the Japanese yen or the Swiss franc. Other factors affecting the NZD are dairy prices and tourism numbers.

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The obverse of each note featured a notable New Zealander, while the reverse featured a native New Zealand bird and New Zealand scenery. The designs remained much the same, but were changed slightly to accommodate new security features, with the most obvious changes being the two transparent windows. On the introduction of the dollar, coins came in denominations of 1c, 2c, 5c, 10c, 20c, and 50c. The obverse designs of all the coins featured Arnold Machin’s portrait of Queen 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 intended for them. Those modern art and sculpture themed designs were leaked to a newspaper and met a very negative public reaction.

Gold approaches $1,800 as demand for the USD prevails

Read our preview of major economic and company events in the week commencing Monday, 2 October 2023 and view our earnings calendar. Spot Gold fell to a fresh multi-month low of $1,827.11 a troy ounce on Monday amid resurgent  US Dollar demand. The Greenback suffered a minor setback at the beginning of the week, as generally encouraging Chinese data and upbeat United States (US) news underpinned the mood. The author and FXStreet are football stocks not registered investment advisors and nothing in this article is intended to be investment advice. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.

Current circulating banknotes

Introduced in 1840, the New Zealand Pound was the first official currency of New Zealand. Until that point, both British and Australian coins circulated in New Zealand, and continued to do so until 1897. The Pound banknotes were produced by the six different trading banks until 1924, when a single uniform design was implemented. A decade later, the Reserve Bank of New Zealand was established. Live tracking and notifications + flexible delivery and payment options.

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In the year 1967 alone, the Bank printed 27 million new banknotes and 165 million new coins. In fact, during the 1800s, New Zealand used its coins and banknotes before British currency was even legal currency. However, nothing was made official until 1933, when New Zealand issued their first official coins, based on the British pound, shilling, and pence.

In 1967, notes were introduced in denominations of $1, $2, $5, $10, $20 and $100, with all except the $5 replacing their pound predecessors. $1 and $2 notes were discontinued in 1991 after being replaced with coins. Check live rates, send money securely, set rate alerts, receive notifications and more. Create a chart for any currency pair in the world to see their currency history.

USD/GBP

The hawkish stance from the Federal Reserve (Fed) boosts the USD against the New Zealand Dollar (NZD) and acts as a headwind for the NZD/USD pair. About the data last week, New Zealand’s forex vs crypto Trade Balance (NZD) dropped to $-2,291M MoM in August versus $-1,107M prior. The annual trade deficit improved to $15.54B for the said month versus $-15.88B prior figures.

New Zealand is one of the world’s biggest exporters of whole milk powder. This means that if milk prices are on the rise the New Zealand economy is likely to be doing well, which will push up the currency. The New Zealand dollar is considered a carry-trade currency in that it is relatively high-yielding so investors will often buy the NZD and fund it with a lower-yielding currency such as the Japanese yen or the Swiss franc. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs. Read our preview of major economic and company events in the week commencing Monday, 25 September 2023, and view our earnings calendar.

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