Currency in New Zealand: NZD Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in New Zealand with the New Zealand dollar.
What's in this New Zealand currency guide?
What currency is used in New Zealand?
The official currency of New Zealand (country code: NZ) is the New Zealand dollar, with symbol NZ$ and currency code NZD.
What is a good New Zealand dollar exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Good things to know about the New Zealand dollar
The New Zealand dollar is informally called the ‘kiwi’ by foreign exchange traders and analysts due to the kiwi bird, which is native to New Zealand, being something of a national symbol for the country. The kiwi bird is also depicted on New Zealand’s one-dollar coin.
Although the New Zealand dollar is considered one of the eight FX ‘majors’, it is actually only the world’s eleventh most traded currency. Further to the other seven majors – the US dollar, euro, yen, pound, Australian dollar, Canadian dollar and Swiss franc – the New Zealand dollar also falls behind the Mexican peso, the Chinese yuan and the Swedish krona in its share of the foreign exchange market (around 2%). The currencies of China and Mexico are not considered majors due to their emerging market status, while the krona’s market share has only exceeded that of the New Zealand dollar fairly recently (in 2016, according to the Bank for International Settlements) and is therefore not yet considered ahead of New Zealand’s currency.
In the past two decades, the New Zealand dollar’s lowest value against the US dollar occurred in October 2000 when the NZD/USD exchange rate traded at just 0.3901. The currency’s two-decade high occurred in August 2011 when NZD/USD reached 0.8842.
Among the majors, the New Zealand dollar is considered a riskier currency, which means that its value will fall against the larger majors (especially JPY, USD, CHF, GBP and EUR) during periods of economic uncertainty or when global geopolitical risk is elevated, or during bouts of high market volatility.
The New Zealand dollar banknotes and coins
The physical currency consists of coins and banknotes. The coins come in denominations of 10 cents, 20 cents, 50 cents, $1, and $2. The banknotes come in denominations of $5, $10, $20, $50, and $100.
The banknotes feature images of famous New Zealand historical figures, such as Sir Edmond Hillary, Sir Apirana Ngata, and Kate Sheppard. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
For more NZD information check out our selection of New Zealand dollar news and guides.
Frequently Asked Questions
What currency should I use in New Zealand?
The domestic currency in New Zealand is the New Zealand dollar.
What is the New Zealand dollar currency code and symbol?
The three letter currency code for the New Zealand dollar is NZD — symbol is NZ$.
What does the New Zealand dollar look like?
Here is an example New Zealand dollar banknote:
Which countries use the New Zealand dollar?
It is the domestic currency in New Zealand, Cook Islands, Niue, Pitcairn and Tokelau.
Is the New Zealand dollar a closed currency?
No, the New Zealand dollar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and NZD?
Here are some popular conversion amounts for USD to NZD (US dollar to New Zealand dollar)*.
| USD | NZD |
|---|---|
| $ 596.30 | NZ$ 1,000 |
| $ 2,982 | NZ$ 5,000 |
| $ 11,926 | NZ$ 20,000 |
| $ 59,630 | NZ$ 100,000 |
More amounts
*Converted at the current USDNZD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for New Zealand
Using Wise for New Zealand dollar travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in New Zealand dollar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want New Zealand dollar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the NZD cash locally or even on travel day at the airport.
New Zealand: Travel Guide
Traveling to New Zealand requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
New Zealand is an island nation located in the southwestern Pacific Ocean. The country is sparsely populated, with most of its population concentrated in the North Island. New Zealand is renowned for its natural beauty, with its stunning landscapes, lush vegetation, and diverse wildlife. The country is also home to a number of Maori and Polynesian cultures, which add to its unique character.
New Zealand is a popular destination for travelers and expats alike, due to its stunning scenery and friendly people. The country offers a wide range of activities and attractions, from hiking and skiing in the mountains, to exploring the many beaches and forests. New Zealand is also a great place to learn about Maori and Polynesian cultures, and to experience some of the best food and wine in the world.
Best things to do and see in New Zealand
Some of the best things to do and see in New Zealand include hiking or biking through pristine forests, exploring an active volcano, visiting one of the world’s longest running farmers markets, or sampling some of the country’s fine wines. New Zealand is also home to some of the best beaches in the world, containing some of the most beautiful coastline.
Top Travel tips for New Zealand
1. Arrive in Auckland and take the Sky Bus to your accommodation. This is the easiest and most cost-effective way to get from the airport into the city.
2. Purchase a Hop card for public transport. This will give you access to all of Auckland's buses, trains and ferries.
3. Purchase a New Zealand SIM card upon arrival so you can have data for maps and translations.
4. Rent a car and explore Auckland's surroundings. Be sure to drive on the left side of the road!
5. Take a ferry to Waiheke Island for a day of wine tasting and beach relaxation.
6. Head south to Rotorua to experience Maori culture and try some traditional foods.
7. Rent a bike and ride through Hobbiton, the movie set used in Lord of the Rings and The Hobbit films.
8. South Island is a must-see, and home to some of New Zealand's most iconic scenery. Take a scenic drive or hike through Milford Sound or Wanaka.
9. Finish your trip with a few days in Queenstown, the adventure capital of the world. Try your hand at bungee jumping, skydiving, or whitewater rafting.
Is it safe in New Zealand?
There is no definitive answer, as each person's level of safety tolerance is different. New Zealand generally has low crime rates and is considered a safe place to travel, but as with any country, travelers should be vigilant and aware of their surroundings.
Everyday Costs in in New Zealand
How much does it really cost to live, work, or travel in New Zealand? Here's what to expect for daily expenses and expat living.
Currency Guide for New Zealand (NZD)
When planning a one-week mid-range stay in New Zealand, travelers should budget around NZD 1,500 to NZD 2,000 per person. This estimate allows for comfort and exploration, covering meals, accommodation, and activities. Here’s a breakdown of typical daily expenses in Kiwi dollars:
- 🍽️ Meal at a local restaurant: NZD 20 - NZD 30
- ☕ Coffee: NZD 5 - NZD 6
- 🚌 Public transport fare: NZD 3 - NZD 5
- 📱 Prepaid SIM card: NZD 30 - NZD 40
- 🏨 Budget hotel or Airbnb: NZD 80 - NZD 150 per night
Overall, New Zealand is considered to be an average to slightly expensive destination compared to many travelers’ home countries. In comparison, the cost of visiting New Zealand generally aligns closely with Australia, where expenses are similarly leveled, while it tends to be more affordable than the UK. Compared to the United States, travelers may find New Zealand's prices for meals and some entertainment to be higher, especially in tourist hotspots.
Insights for Expats in New Zealand
For expats relocating to New Zealand, typical monthly living costs can vary widely depending on lifestyle and location. On average, expect to pay around NZD 2,500 to NZD 4,000 for rent, groceries, transportation, and entertainment combined. When it comes to financial management, utilizing local banking accounts is advisable; most banks offer a range of services for expats. Credit and debit cards are widely accepted, though it's prudent to carry cash, especially in smaller towns.
When it comes to transferring money, using online services like Wise or OFX often provides better exchange rates and lower fees compared to traditional banks. These platforms can seamlessly facilitate money transfers internationally. Conversely, exchanging currency locally may lead to less favorable rates and transaction fees, making online banking options a smarter choice for managing your finances in New Zealand.
USD/NZD Market Data
The below interactive chart displays the USD/NZD change and UP📈 DOWN📉 trends over the past 1 Year.
Recent New Zealand dollar Market News
Another Trump presidency will undoubtably mean new and punishing tariffs for Europe and China, two key trading partners. Stricter tariffs could well dampen demand for the key commodities and subsequently the NZD.
NZD/USD and AUD/USD are correlated and often move in the same direction due to their geographical proximity and their dependence on commodity markets.
For more NZD information read our News and guides to the New Zealand dollar.
Send Money to New Zealand - Best Rates
To get a good (and fair) exchange rate when sending money to New Zealand you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to New Zealand
When sending money to New Zealand it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or New Zealand dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted NZD amount will be transfered to the recipient account you specify in New Zealand.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more New Zealand dollar deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in New Zealand
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand New Zealand dollar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the NZD exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local New Zealand dollar bank account: A local NZD bank account can make it easier for you to manage your finances and pay bills while you are in New Zealand. It may also be more convenient to use a local NZD bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in New Zealand. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in New Zealand. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in New Zealand, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in New Zealand.
Is New Zealand a cheap place to live?
The cost of living in New Zealand can vary depending on the location and lifestyle of the individual, however, it is generally considered to be relatively expensive compared to some other countries.
It is worth noting that the cost of living in New Zealand can vary depending on the region and lifestyle you choose to live. Some smaller towns and rural areas might have more affordable cost of living than the big cities.
The cost of housing, particularly in larger cities such as Auckland and Wellington, can be high.
Food and transportation costs are also relatively high, although prices for some goods and services such as clothing and electronics may be lower than in other developed countries.
Additionally, wages in New Zealand tend to be lower than in some other developed countries, which can make it more difficult for some people to afford the cost of living.
What is the cost of living in New Zealand?
The cost of living in New Zealand varies depending on which city you live in, but overall it is relatively expensive. The most expensive city in New Zealand is Auckland, followed by Wellington and Christchurch.
How is the expat life in New Zealand?
Expat life in New Zealand is very good. The people are friendly and welcoming, and there are many opportunities to meet other expats. There is a strong expat community in New Zealand, and many events and activities are organized specifically for expats.
Any laws in New Zealand that foreigners should be aware of?
There are several laws in New Zealand that foreigners should be aware of. These laws include the Immigration Act 2009, the Customs and Excise Act 1996, and the Biosecurity Act 1993.
What is doing business like in New Zealand?
The business environment in New Zealand is generally quite good. The country ranks highly in the World Bank's "ease of doing business" rankings, and there is a strong culture of entrepreneurship and innovation. However, there are some challenges that businesses may face, such as a relatively high cost of living and a small domestic market.
How is the economy in New Zealand?
The economy in New Zealand is growing at a steady pace, with low unemployment and inflation. However, there are concerns about the high level of household debt and the housing market.