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New Zealand - NZ Dollar - Currency Guide

 

Foreign exchange guide to New Zealand and the NZ Dollar (NZD)

   

General Currency Info - NZ 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.

   

NZD News, Forecasts and Trends

Although New Zealand has nearly eliminated COVID-19 and wound back restrictions, its international borders are likely to be closed until 2021. This means the economy will be slower to rebound as its reliance on tourism outweighs that of major counterparts. Despite the New Zealand economy’s reliance on tourism, the NZD has been well supported by positive risk sentiment, higher NZ–US short term yields and robust commodity prices.

For more NZD currency market forecasts you can read the full article NZ Dollar Forecasts. The below interactive chart shows the NZD to INR exchange rate, trend and recent alerts for the last 90 days.

   
Recent NZD to INR 90-day trend
 
ALERTS:1-DAY0.5% | 14-DAY LOWS |
NZD to INR at 49.33 was trading 2.4% above AVG:48.18 with LO:45 and HI:50.15 (90 days). ALERTS: Today NZD/INR was DOWN 0.5% and also dropped to 14-DAY LOWS.

NZ Dollar to Indian Rupee - Historical Rates

NZD/INR rateChangePeriod
03 Aug 2020 : 49.70560.7% ▼1 Week
11 Jul 2020 : 49.43350.1% ▼30 Days
12 May 2020 : 45.71388% ▲90 Days
11 Aug 2019 : 45.90937.5% ▲1 Year
12 Aug 2015 : 42.829915.3% ▲5 Years
13 Aug 2010 : 33.034349.5% ▲10 Years
NZD/INR 10 year historic rates & changes to 10-Aug-2020 : 49.3730
 

₹1,000 INR
=
NZ$20.27 NZD

Converted at INR/NZD wholesale exchange rate, compare foreign transfer and spend/travel exchange rates.

 
 

Indian Rupee to NZ Dollar - Quick Conversions

INR NZD
₹ 1 NZ$ 0.0203
₹ 5 NZ$ 0.1013
₹ 10 NZ$ 0.2027
₹ 20 NZ$ 0.4054
₹ 50 NZ$ 1.0135
₹ 100 NZ$ 2.0269
₹ 250 NZ$ 5.0673
₹ 500 NZ$ 10.13
₹ 1,000 NZ$ 20.27
₹ 2,000 NZ$ 40.54
₹ 5,000 NZ$ 101.35
₹ 10,000 NZ$ 202.69
₹ 50,000 NZ$ 1,013
₹ 100,000 NZ$ 2,027
More amounts
INR NZD
49.34 NZ$ 1
246.70 NZ$ 5
493.40 NZ$ 10
986.80 NZ$ 20
2,467 NZ$ 50
4,934 NZ$ 100
12,335 NZ$ 250
24,670 NZ$ 500
49,340 NZ$ 1,000
98,680 NZ$ 2,000
246,700 NZ$ 5,000
493,400 NZ$ 10,000
2,467,000 NZ$ 50,000
4,934,000 NZ$ 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in New Zealand?

The domestic currency in New Zealand is the NZ Dollar.

What is the NZ Dollar currency code and symbol?

The three letter currency code for the NZ Dollar is NZD — symbol is NZ$.

Which countries use the NZ Dollar?

It is the domestic currency in    New Zealand,   Cook Islands,   Niue,   Pitcairn and Tokelau.

Is the NZ Dollar a closed currency?

No, the NZ Dollar is freely available and convertible. See guide: What is a closed currency?

 

Travel, Currency and Money saving tips for New Zealand

New Zealand is a popular destination and is inexpensive and offers a lot of ways to save money. The locals are friendly and helpful. Getting around by bus is also fairly cheap, however eating out can be expensive so budget travelers may want to learn to cook. Getting around with flights is also fairly expensive as there is not much competition among airlines.

Credit cards are accepted across the country and ATMs are frequently available in cities and towns, though some of New Zealand's highlights are in its beautiful countryside. If you prefer not to carry your main credit card on you at all times a Prepaid Travel Card can be useful to purchase before arrival.

 

Travel money for New Zealand

Save money and time by Ordering your NZ Dollars online from Travelex, you get better rates and can pick up the NZD cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in NZ Dollars otherwise you may get much worst exchange rates.

 

Sending money to New Zealand

When searching around for information on how to get a good exchange rate when sending money to New Zealand you need to start with finding out the latest NZ Dollar exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees 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 :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or NZ Dollar amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. 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 Send to NZ Dollars 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 NZ Dollars deposited into the recipient bank account and less margins and fees kept by the banks!


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