The New Zealand currency, represented as NZD or NZ$, is the official currency used in New Zealand.
The Kiwi dollar (an informal name for the currency) is one of the 12 most-traded currencies in the world.
The Reserve Bank of New Zealand monitors all currency matters. The Reserve Bank administers foreign remittances through
commercial banks. It provides a monthly online summary of the New Zealand currency's average value against the US dollar, the
British pound, the Australian dollar, the yen and the Euro.
Evolution of the New Zealand Dollar Exchange Rate
The New Zealand dollar was initially pegged to the Pound Sterling and later to the US dollar. The New Zealand currency was
later moved to a controlled float and eventually floated in March 1985, under the broad-based deregulation of the financial
markets. The Reserve Bank of New Zealand has not placed any restrictions in the foreign exchange market since the float.
The value of the New Zealand dollar was around US$ 0.71 in November 1996. However, it depreciated to around US$0.44 in 2000
due to monetary control exercised by the central bank to check inflationary pressures that overvalued the currency.
The New Zealand dollar appreciated in 2007 and reached a record high of US$0.7932, 22 years after the currency was floated.
However, the NZD depreciated considerably against the US dollar and the yen during March 2009 due to weakening interest rates.
It was valued at around 50 US cents during the initial months of the year.
Overview of the New Zealand Currency
The import and export of the New Zealand currency are largely unrestricted. However, a Border Cash Report needs to be
filed when the amount carried into or outside the country exceeds NZ$10,000.
New Zealand is largely dependent on the trade of agricultural products for economic growth, with exports comprising
one-fifth of the nation’s GDP. Thus, exports play a key role in determining the exchange rate of the New Zealand dollar.
New Zealand Dollar Exchange Rate: Historical Lookup
The table shows the New Zealand dollar exchange rate trends against other major currencies (as on January 1).
| |
US Dollar |
British Pound |
Australian Dollar |
Japanese Yen (100) |
Euro |
| 2007 |
0.704602 |
0.359748 |
0.893711 |
83.8618 |
0.533911 |
| 2008 |
0.767801 |
0.386938 |
0.874887 |
85.7711 |
0.525784 |
| 2009 |
0.5815 |
0.39777 |
0.832737 |
52.7944 |
0.417774 |