Foreign Exchange Guide to New Zealand
The domestic currency in New Zealand is the New Zealand dollar with currency code NZD. Read this foreign exchange guide to New Zealand and the New Zealand dollar with money transfer and travel tips plus New Zealand dollar exchange cross rates.
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
Beset by the continued dovishness of the RBNZ, the New Zealand dollar tumbled in the second week of May to just 69.0 US cents – a five-month low – before recovering slightly to trade in the mid-69s at the time of this report. The kiwi also fell hard against other major currencies, including to a three-month low of 92.3 Australian cents.
The latest catalyst for kiwi selling was May’s monetary policy statement by the RBNZ. After leaving the official cash rate at a record low of 1.75 percent, the bank failed to rule out a rate cut. “The…next move in interest rates is equally balanced, up or down,” the bank said.
Interest rates in New Zealand are expected to fall below US rates this year – a development that PricewaterhouseCoopers has described as a “massive change in market conditions [offering] a disincentive to invest in NZD.”
In May, Deutsche Bank’s currency valuation model ranked NZD as the most overvalued major currency and the fifth most overvalued of the world’s twenty-eight most traded currencies.
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 ATM's 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.
New Zealand Trip Checklist
- Compare NZD travel cash rates - probably why you are here!
- Search Hotel deals - Save on your accomodation in New Zealand
- Lonely Planet - world's best travel guide (coupon and deals)
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 May 23 2018 00:00:03 GMT+0000 (UTC)
Sending money to New Zealand
How to save when sending money 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 3 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 May 23 2018 00:03:25 GMT+0000 (UTC)