New Zealand Dollar to Fijian Dollar exchange rates aren't all the same.
The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees.
These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.
90-DAY TREND: At 1.3958 NZD/FJD is trading near the average 1.3904 with a range 1.3655 to 1.4117. There are no current alerts. Updated: 08:01-AEDT21:01-GMT16:01-EST
Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for NZD/FJD International Money Transfers. Costs are calculated against the current interbank mid-rate.
Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.
When determining the best time to make a foreign exchange transaction, in this case the NZD vs FJD, you should pay attention to the recent market trends for both currencies.
New Zealand Dollar (NZD)
The New Zealand dollar weakened in June to a 7-month low against the euro, at rates below €0.58.
At US$0.65, the kiwi remained weak against the greenback, 6 percent lower than rates in March.
Against the Australian dollar, NZD has been steady in recent months, having spent much of its time between A$0.94 and A$0.95.
Robbing New Zealand's currency of gains in 2019 have been lower NZ interest rates, 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.
Why can't I just get the NZD/FJD market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between
the last rate at which the NZD / FJD was traded (bought or sold) in the international markets.
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate).
Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
