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NZ dollar NZD forecasts for 2020

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.

NZD in the markets

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.

NZD/USD - 90 day trend
ALERT:4-DAY1.6% |
NZD/USD at 0.6203 was trading 1.8% above AVG:0.6094 with LO:0.5673 and HI:0.6441 (90 days). ALERT: NZD/USD is UP 1.6% this 4-DAY period.

You can also read our full Foreign Exchange Guide to New Zealand.

What is a good NZD dollar exchange rate?

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/USDPeriod to 29-MayDateRate
1.7% ▲1 Week22 May 20200.6099
1% ▲30 Days29 Apr 20200.6140
0.7% ▼90 Days29 Feb 20200.6249
4.6% ▼1 Year30 May 20190.6504
12.5% ▼5 Years31 May 20150.7092
8.2% ▼10 Years01 Jun 20100.6761
NZD/USD 10 year rates & changes to 29-May-2020 (0.6204)
NZD/AUDPeriod to 29-MayDateRate
0.3% ▼1 Week22 May 20200.9332
0.7% ▼30 Days29 Apr 20200.9368
3.1% ▼90 Days29 Feb 20200.9601
1.2% ▼1 Year30 May 20190.9419
0.2% ▲5 Years31 May 20150.9283
15% ▲10 Years01 Jun 20100.8095
NZD/AUD 10 year rates & changes to 29-May-2020 (0.9306)
NZD/GBPPeriod to 29-MayDateRate
0.2% ▲1 Week22 May 20200.5014
2.1% ▲30 Days29 Apr 20200.4924
3.1% ▲90 Days29 Feb 20200.4874
2.6% ▼1 Year30 May 20190.5159
8.3% ▲5 Years31 May 20150.4640
8.7% ▲10 Years01 Jun 20100.4624
NZD/GBP 10 year rates & changes to 29-May-2020 (0.5025)
NZD/FJDPeriod to 29-MayDateRate
0.5% ▲1 Week22 May 20201.3678
0.2% ▲30 Days29 Apr 20201.3712
0.8% ▼90 Days29 Feb 20201.3857
2.2% ▼1 Year30 May 20191.4057
6.6% ▼5 Years31 May 20151.4718
0.7% ▲10 Years01 Jun 20101.3646
NZD/FJD 10 year rates & changes to 29-May-2020 (1.3743)
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.

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