If you are doing any sort of New Zealand Dollar (NZD) conversion it pays to compare providers to see who can give you the best New Zealand Dollar (NZD) exchange rate exchange rate. High street banks are the worst place to convert money as they generally have poor New Zealand Dollar (NZD) exchange rates. To get the best rate for large New Zealand Dollar (NZD) currency transfers, smaller regular money transfers or cash travel money read our guide to the top providers.

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OFX

Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 55
Min Transfer: £250
Max Transfer: None
Customers: +1 million
Founded: 1998
Transfers: £82 billion
HQ: Sydney, Australia
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Currencies Direct

Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 40
Min Transfer: £100
Max Transfer: None
Customers: 325,000
Founded: 1996
Transfers: £7.5 billion a year
HQ: London, UK
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Global Reach

Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ✔️
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 30+
Min Transfer: £3,000
Max Transfer: No limit
Customers: 30,000+
Founded: 2001
Transfers: £6 billion pa
HQ: London, UK
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TorFX

Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 40
Min Transfer: £100
Max Transfer: None
Customers: 325,000
Founded: 2004
Transfers: £7.5 billion a year
HQ: Cornwall, UK
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Key Currency
Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 42
Min Transfer: £1,000
Max Transfer: None
Customers: 50,000+
Founded: 2015
Transfers: £2 billion a year
HQ: Cornwall, UK
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Check you are getting the best New Zealand Dollar (NZD) Exchange Rate

You can use the below table of New Zealand Dollar (NZD) exchange rates against other G10 currencies to check what fees you would pay and what foreign exchange you would receive from currency conversion.

Live Best New Zealand Dollar (NZD) exchange rates versus other major currencies

CurrencyMid Rate10,000 NZDIf Fees 0.25%If Fees 0.5%If Fees 1%
Euro (EUR)0.59215,921.155,906.355,891.555,861.94
Australian dollar (AUD)0.94779,476.649,452.959,429.269,381.88
Japanese yen (JPY)77.0145770,145.20768,219.84766,294.47762,443.75
Pound Sterling (GBP)0.50565,056.115,043.475,030.835,005.55
Norwegian krone (NOK)6.161961,618.7461,464.7061,310.6561,002.56
United States Dollar (USD)0.69896,988.556,971.086,953.616,918.66
Swedish krona (SEK)6.029760,297.2160,146.4759,995.7259,694.24
Swiss franc (CHF)0.64016,400.676,384.676,368.676,336.67
Canadian dollar (CAD)0.87718,771.208,749.278,727.348,683.49

The table displays the live exchange rates display that you would receive from a conversion of 10,000 New Zealand Dollar (NZD) into other major currencies based on the below:
  • Mid-market price (the price at which banks exchange money)
  • If fees were 0.25% (we would consider this a cheap mark up)
  • If fees were 0.5% (we would consider this an average mark up)
  • If fees were 1% (we would consider this an expensive mark-up)

To manually calculate what mark-up a currency broker has charged you please use our historic mark-up calculator.

What is the New Zealand Dollar (NZD) Exchange Rate exchange rate?

The New Zealand Dollar is the official currency of New Zealand. It is also a legal tender in number of islands including Cook, Tokelau, Niue, and Pitcairn. The current currency regime - dollar and decimals - was introduced in the sixties to replace the pound system. In the eighties, the currency was formerly converted into the free-float regime.

The NZ Dollar, mostly known in the market as the 'Kiwi', is a popular currency. According to the Bank of International Settlement survey (2019), NZD is the tenth most traded currency on a daily basis. But on a GDP basis, New Zealand is ranked outside the top 40 economy in the world ($240 billion).

The Reserve Bank of New Zealand controls the monetary policy and distribution of the NZ Dollar of the country. As with most central banks, the key focus of the central bank is inflation, unemployment, and price stability. The bank has a 1-3 percent target range for inflation.

The primary tool in which the central bank controls the economy is the Official Cash Rate (OCR). Since last March, the OCR is at 25 basis points (0.25%) - a record low. The quantitative easing program in NZ is called the Large Scale Asset Purchase (LSAP), which is running at a maximum of NZ$100 billion until June 2022.

What factors affect the New Zealand Dollar (NZD) exchange rate?

What drives the New Zealand Dollar?

Most currencies are driven by fundamentals, technicals, and sentiment. On the fundamentals side, traders will need to pay attention of key data releases such as GDP growth, inflation, unemployment and housing data as to gauge the prospect of interest rate movements.

Historically, one of the key allure of the New Zealand Dollar is its high interest rate. During the so-called Goldilock Years, during 2004- 06 NZD benefitted from the target leg of the carry trade because the NZD interest rate was so high. Traders borrowed from the low-funding currencies such as JPY and invested in NZD. As late as June 2008, the OCR was at 8.25%. But that was then.

These days, the OCD rate is at a record low. The carry trade no longer proved to be as attractive as before. Hence the NZD could not sustained a positive trend against other currencies.

Moreover, the NZ economy is heavily geared towards commodities. This means that during periods of commodity price upswing, the NZD tends to outperform - and vice versa. For example, the NZD rallied significantly against the USD during the 2002-2006 and 2009-2012 when commodity prices were rising rapidly, When commodity prices fall, the NZD weakened (see below). Accordingly, if commodities continue to do well in 2021 and beyond, NZD will probably rally further, albeit in a choppy fashion.

Going forward, a third factor may come into play. That is, house prices. The drastic fall in interest rates over the past 12 years (from 8.25% to 0.25%) has fuelled a housing boom in New Zealand. According to a recent Bloomberg Housing Risk monitor, New Zealand has the largest housing bubble in OECD (see below). The central bank may be forced to act if this continues further, as because surging house prices causes problematic social problems later.

Source: Bloomberg

Bottom line - The NZ Dollar is a favourite trading currency in the FX market due to its volatility. Large swings within a commodity cycle significantly impact the NZD. Historically the NZD benefitted from high interest rates. Nowadays it is the relative amount of QE that moves exchange rates. Important NZD pairs to watch for includes NZDUSD, GBPNZD, and NZDAUD.

Getting the best New Zealand Dollar (NZD) Exchange Rate FAQ

When you convert and transfer New Zealand Dollar (NZD) with a currency broker your fixed exchange should be a maximum of 0.5% from the mid-market for currency transfers. To put this in perspective, banks traditionally charge 3-5% which means that if you are sending £100,000 worth of New Zealand Dollar (NZD) you could save up to £4,500 with a currency broker versus the banks.

Request a quote to see how much you can save – you’ll find a better New Zealand Dollar (NZD) exchange rate than by using your bank.

Where to find the best exchange rate for New Zealand Dollar (NZD)?

Comparison tables and New Zealand Dollar (NZD) exchange rate quote request forms will help you find the best New Zealand Dollar (NZD) exchange rate. New Zealand Dollar (NZD) exchange rate comparison tables highlight the key features of currency transfer providers whereas New Zealand Dollar (NZD) exchange rate quote request forms will make currency brokers compete for your business by offering the best exchange rate.

A few tips on getting the best New Zealand Dollar (NZD) exchange rate:

How do I know I am getting the best New Zealand Dollar (NZD) exchange rate?

Only go with a currency broker that offer fixed and transparent exchange rates and clearly show fees. All fees and charges should be built into the exchange rate. Have a look around currency providers' websites, and if you find that they don’t clearly show how much a currency transfer is going to cost you will need to ensure you get a fixed mark up rate in writing to ensure you get the best New Zealand Dollar (NZD) exchange rate.

Should you convert New Zealand Dollar (NZD) now or wait for the exchange rate to improve?

If you think the exchange rate is going to go in your favour have a chat with your currency broker. Most have been providing market timing advice to institutions and hedge funds for years and should be able to provide some guidenece on strategy. Or, if you are worried the rate will move against you it is possible to lock in the current rate for up to a year in advance with a currency forward.

How do I know what the New Zealand Dollar (NZD) exchange rate commission is?

These are included in the exchange rate and are always fixed and transparent. Our exchange rates are always a fixed percentage from the live mid-market.

If you want to know how much the fees will be just ask and we’ll provide a clear breakdown. Read our guide on how to compare exchange rates, which also explains what the fees are and how to calculate them.

Will I really get the best New Zealand Dollar (NZD) exchange rate?

Yes but you'll have to put a bit of effort it. If you are already using your bank or another currency broker send us a recent transaction and we will send you back a breakdown of exactly how much they are charging you in hidden fees and how our approach to fixed and transparent exchange rates will result in you getting the best New Zealand Dollar (NZD) exchange rate.

Why buy New Zealand Dollar (NZD) through a currency broker?

  • Compare the cheapest bank beating currency exchange rates
  • Expert help and advice to reduce your risk and exposure
  • Dedicated account managers every step of the way
  • Convert funds online and platform access 24/7
  • Same day and forward currency exchange contracts
  • Zero service charge, commission or transfer fees
  • Transfer money direct to single or multiple beneficiary accounts

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