Divergent expectations for inflation and interest rates between the New Zealand and the US have been pushing down the NZ dollar this year.
BER Research The New Zealand dollar weakened 20 percent in 2022 versus the US dollar as a result of the risk-off trade encouraged by the Ukraine situation and a hawkish Federal Reserve.
The Kiwi dollar has been left behind as investors head for safer assets.
| Date | NZD/USD | Change | Period |
|---|---|---|---|
17 Jan 2023 | 0.6432 | 0.1% ▲ | 2 Week |
02 Nov 2022 | 0.5813 | 10.8% ▲ | 3 Month |
31 Jan 2022 | 0.6578 | 2.1% ▼ | 1 Year |
01 Feb 2018 | 0.7400 | 13% ▼ | 5 Year |
02 Feb 2013 | 0.8444 | 23.7% ▼ | 10 Year |
05 Feb 2003 | 0.5494 | 17.2% ▲ | 20 Year |
New Zealand will reopen its border to the world in April and will end the “fortress” settings that kept Covid-19 out for much of the pandemic.
Whether the NZ dollar will rise or drop in the future 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.
NZD to AUD at 0.9113 is 1.7% below its 90-day average 0.927 with range 0.9076-0.9540. NZD to AUD
NZD to GBP at 0.5235 is just above its 90-day average 0.521 with range 0.5114-0.5273. NZD to GBP
NZD to FJD at 1.3914 is just above its 90-day average 1.3881 with range 1.3342-1.4146. NZD to FJD
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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.
You can also read our full Foreign Exchange Guide to New Zealand.
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.