Forecasts for the New Zealand dollar change all the time, affected by news events and relative sentiment towards the New Zealand economy. This continually updated article reviews the latest forecasts from banks and FX experts as well as news and recent movements of NZD in the currency markets.
Risks to the NZD forecasts come in the form of US-China trade tensions (New Zealand has very strong trade links with China) and any subsequent depreciation of the Chinese yuan because of NZD’s high correlations with Asian currencies.
Growing fears of the coronavirus outbreak has moved the market into safer currencies such as the USD and away from AUD, NZD and CAD.
The threat of proxy war between the US and Iran in Iraq also pared back some of the gains the Kiwi had made coming into the New Year.
In December the New Zealand dollar has climbed back to US$0.66 it's highest value since July.
Against the Australian dollar, jumped to A$0.96 after being as low as A$0.92 in early November before starting a strong recovery upto current levels above A$0.95.
Robbing New Zealand's currency of better gains in 2019 have been reduced risk appetite spurred on by an escalation in the US-China trade standoff, and high correlations with other weak currencies, including the Australian dollar and yuan.
This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate’s current relative value is to look at the rate’s history against a range of currencies and in particular against the currency you are interested in exchanging it with.
For example, the following tables look at the change in the NZD exchange rate to the present day for periods going back 10 years for popular SGD exchange rates.
|NZD/USD||Period to 22-May||Date||Rate|
|2.8% ▲||1 Week||15 May 2020||0.5934|
|3% ▲||30 Days||22 Apr 2020||0.5922|
|3.9% ▼||90 Days||22 Feb 2020||0.6349|
|6.5% ▼||1 Year||23 May 2019||0.6521|
|16.6% ▼||5 Years||24 May 2015||0.7309|
|8.3% ▼||10 Years||25 May 2010||0.6653|
|NZD/AUD||Period to 22-May||Date||Rate|
|0.9% ▲||1 Week||15 May 2020||0.9250|
|0.8% ▼||30 Days||22 Apr 2020||0.9406|
|2.6% ▼||90 Days||22 Feb 2020||0.9579|
|1.3% ▼||1 Year||23 May 2019||0.9453|
|0.1% ▼||5 Years||24 May 2015||0.9342|
|14.7% ▲||10 Years||25 May 2010||0.8137|
|NZD/GBP||Period to 22-May||Date||Rate|
|2.3% ▲||1 Week||15 May 2020||0.4902|
|4.3% ▲||30 Days||22 Apr 2020||0.4806|
|2.4% ▲||90 Days||22 Feb 2020||0.4898|
|2.6% ▼||1 Year||23 May 2019||0.5150|
|6.2% ▲||5 Years||24 May 2015||0.4721|
|8.3% ▲||10 Years||25 May 2010||0.4629|
|NZD/FJD||Period to 22-May||Date||Rate|
|2.3% ▲||1 Week||15 May 2020||1.3365|
|1.6% ▲||30 Days||22 Apr 2020||1.3457|
|2.4% ▼||90 Days||22 Feb 2020||1.4019|
|3.4% ▼||1 Year||23 May 2019||1.4156|
|8.4% ▼||5 Years||24 May 2015||1.4940|
|0.3% ▼||10 Years||25 May 2010||1.3726|
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