When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.
| Foreign Transfer Providers Ratings & Reviews | Receive NZD($) | Exchange Rate | Fee USD | Total Cost | Transfer Services | Transfer Speed | Deal Links |
|---|---|---|---|---|---|---|---|
  OFX exchange rates are highly competitive for global money transfers, great customer service. ^Zero transfer fees for BestExchangeRates customers. More info▾ | 14,807 NZD Best Overall | 1.4807 | 0^ | 1.06% | Bank Transfers - Online & Phone, Foreign Currency Accounts | 1-2 days | |
Banks - Average Rate     Average rate from selected banks. Click icons for each bank's costs. More info▾ | 14,400 NZD 407 NZD | 1.4485 | 15 | 3.77% | Online, Branch, Bank Transfers | 2-3 days |
This is a chart showing the change in the USD-NZD mid-market exchange rate over the last week. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market USD-NZD exchange rate.
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency must always be quoted in comparison to a second currency.
So it follows that if you are determining the best time to transact, in this case the USD vs NZD, you should pay attention to both United States Dollar and New Zealand Dollar news and forecasts.
In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.
The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.
Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at a 5-year low.
Until the March-27 meeting of the RBNZ, the New Zealand dollar had been among the best performing major currencies of the year. After the RBNZ said in its statement that its next move on interest rates was likely to be a cut, the kiwi weakened to US$0.68, and then in the week that followed to a 7-week low of US$0.674. The kiwi was barely up on the year (+0.7 percent).
At the time of writing, NZD was particularly weak against the pound, at £0.514, and it was trading at a 7-week low against the Aussie dollar, at A$0.953.
Though other central banks also spoke dovishly in March, the RBNZ was the first to say it might go beyond merely maintaining rates and recommence with policy easing.
Post-RBNZ, banks began betting on NZD depreciation.
ANZ said that NZD would be vulnerable against Asian currencies, including the Chinese yuan and Singapore dollar.
For NZD/AUD, the RBNZ surprise is likely to mark the beginning of a move towards more neutral (lower) levels, perhaps as low as A$0.92, Societe Generale said.
