This is a foreign exchange guide to New Zealand, New Zealand dollar currency news plus NZD transfers and travel tips.
In this guide we review :
- New Zealand dollar info - general info about the New Zealand dollar
- New Zealand dollar in the markets - recent NZD moves and predictions from the FX markets
- Travelling in New Zealand - currency & money saving tips
- Buying New Zealand dollar cash online - travel money for New Zealand
- Sending money to New Zealand - save on New Zealand dollar bank transfers to New Zealand
- New Zealand dollar exchange rates - latest & historic exchange rates.
New Zealand dollar (NZD) general currency information
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.
What is the New Zealand dollar currency code and symbol?
The three letter currency code for the New Zealand dollar is NZD and the symbol is $.
Which countries use the New Zealand dollar?
New Zealand dollar (NZD) in the markets
The New Zealand dollar has spent much of 2018 influenced by risk sentiment and, in the case of NZD/USD, by the broader market for US dollar pairs.
The kiwi fell steadily between April and mid-July (the time of this report), not only against the greenback, against which it slumped nearly 9 percent to $0.676, but also to lesser extents against the yen (¥75.99), Australian dollar (A$0.912) and Canadian dollar (C$0.891).
ING said in July that inflation data (to be released on July-17) would “set the tone for…NZD dynamics over the coming months.” Inflation was forecast at an annualized 1.6 percent (the RBNZ would prefer 2 percent); consequently, markets had long priced-in a near-zero probability of an NZ interest rate hike this year.
In the absence of a positive inflation surprise (one was highly unlikely according to a report by ANZ), the kiwi will remain vulnerable. ING even suggested a potential move in NZD/USD to 0.65 – a rate unseen since early 2016.
The interactive chart below shows the NZD to USD exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.
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 New Zealand dollar 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 New Zealand dollar otherwise you may get much worst exchange rates.
Travel Money Exchange Rates Compared
Buying NZD Cash with USD 1,000
Rate timestamp : Wed Jul 18 2018 06:00:04 GMT+0000 (UTC)
New Zealand Trip Checklist
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 New Zealand dollar foreign-transfer exchange 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 here).
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 our Send to NZD 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!
Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote
Compare Foreign Transfers
Sending USD 10,000 to NZD
Rate timestamp : Wed Jul 18 2018 06:03:27 GMT+0000 (UTC)