Foreign Exchange Guide to Tokelau

New Zealand Dollar (NZD) general currency information

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?

It is the domestic currency in New Zealand, Cook Islands, Niue, Pitcairn and Tokelau.

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.

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New Zealand Dollar (NZD) in the markets

In the weeks leading up to this report (15-Nov-18), the New Zealand dollar was among the best performing global currencies, helped by easing trade tensions between the US and China.

At 68.4 US cents, it remained down 8 percent on 2018 highs. The kiwi struck a 2-1/2-year low in October of just 64.25 cents. After falling to 55.77 euro cents, NZD recovered by the time of this report to buy 60 euro cents — a 10-month high.

Inaction on interest rates from the RBNZ has lended itself to lower NZD exchange rates throughout 2018 but this will likely change in the coming year. The inevitability of higher New Zealand interest rates should become a central narrative in mid-2019. Higher interest rates would add strong support to the kiwi, certainly relative to the currencies of the US, which has already normalized policy a great deal, and of Europe and the UK — these being areas that are likely to see lower interest rates for longer due to uncertainties surrounding Brexit.

The interactive chart below shows the USD to NZD 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.

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USD-NZD 3 Month chart

USDNZD currency converter

Sending money to Tokelau

When searching around for information on how to get a good exchange rate when sending money to Tokelau 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 Tokelau

When sending money to Tokelau 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 :

1. Open an account with a BER reviewed FX provider (id docs may be required)
2. You specify the local or New Zealand Dollar amount you want to transfer
3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
4. Once your funds are received by the provider the converted NZD amount will be transfered to the recipient account you specify in Tokelau.

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!

Popular NZD cross rates