New Zealand dollar NZD Exchange Rates

Other factors affecting the NZD are dairy prices and tourism numbers. New Zealand is one of the world’s biggest exporters of whole milk powder. This means that if milk prices are on the rise the New Zealand economy is likely to be doing well, which will push up the currency. When the Fed intervenes in open market activities to make the U.S. dollar stronger, for example, the value of the NZD/USD cross could decline, due to a strengthening of the U.S. dollar when compared to the New Zealand dollar. The first coins had pictures of the native birds of New Zealand on the “tails” side, a tradition that has continued, with the British monarch on the head side.

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In 1967, notes were introduced in denominations of $1, $2, $5, $10, $20 and $100, with all except the $5 replacing their pound predecessors. $1 and $2 notes were discontinued in 1991 after being replaced with coins. Compare our rate and fee with our competitors and see the difference for yourself. There’s a good network of ATMs across New Zealand , and card payments are also widely accepted. Always pay in AUD to avoid sneaky extra dynamic currency conversion costs and to make sure your money goes further.

If you’re buying your travel money online you may also see the official code being shown – NZD. In stores and restaurants, New Zealand dollar prices are likely to use the currency symbol NZ$. This guide covers all you’ll need to know about the official currency in New Zealand , where to get it and how to keep your costs down during your trip. In other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. The New Zealand government has produced polymer or plastic versions of the New Zealand dollar since 1999.

Ways to Save Money When Backpacking in New Zealand

Or if you prefer an offline solution you can carry some cash in AUD to exchange when you arrive. Currency exchange providers are often in airports and hotels, although the exchange shops in a city center are likely to be cheaper overall. Because New Zealand sees many tourists from Australia every year you might find you’re better off if you exchange your currency when you get to New Zealand rather than worrying about LexaTrade Review getting your cash sorted out before you leave. Whether you’re heading there for work or pleasure, you’ll need to know how to pay your way as you travel.

The strength of a currency tends to fluctuate so the strength of the NZD may not always be so strong. However, overall, NZD is considered a stable currency due to the strength of the New Zealand economy and its outlook. Tourism is a strong economic driving force for New Zealand, so when tourism is doing well in the country, the currency will tend to be stronger. Other economic factors, such as growth rate, GDP, unemployment, and inflation are strong and, therefore, lead to a strong currency. The NZD is affectionately referred to as the ‘Kiwi,’ in honor of a flightless bird called a kiwi, which is pictured on one side of the country’s $1 coin. In 1986, New Zealand adopted Raphael Maklouf’s new portrait of the Queen.

Spend abroad without hidden fees

This guide will walk through all you need to know, including US dollar/New Zealand dollar rates and where best to get your travel money from. Banknotes – $5, $10, $20, $50, and $100 and coins 10c , 20c, 50c, $1 and $2. The official currency in New Zealand is the New Zealand dollar, which is issued and overseen by the Reserve Bank of New Zealand.

Wise gives you the real, mid-market, exchange rate, review: the international handbook of shipping finance: theory and practice so you can make huge savings on your international money transfers. Get familiar with the exchange rates offered locally to you, and online, so you can decide whether it’s worth switching some funds in advance of travel, using a card to pay while you’re away, or converting cash on arrival. Both in Australia and in New Zealand , steer clear of exchanging currency at the airport. A captive market means that AUD/NZD rates are often worse in the airport than in city centers. Sometimes when you’re away on a trip abroad you’ll find that merchants will take payments in a selection of major foreign currencies.

Order a Wise travel card online or in the Wise app, to hold and exchange 40+ currencies and manage your money from your phone. You’ll be able to spend conveniently in NZD – and all currency exchange uses the mid-market rate with no markup. It floated on March 4, 1985, at an initial exchange rate of 44 cents image manipulation against the U.S. dollar. The financial markets have since determined the currency’s value with the unit typically ranging between 39 and 88 cents against the greenback. It took another 30 years before the Reserve Bank replaced the currency of pounds, shillings, and pence with actual dollars and cents. In the year 1967 alone, the Bank printed 27 million new banknotes and 165 million new coins.

You can’t usually pay in AUD in New Zealand , so you’ll need to plan in advance to get your travel money sorted. You won’t be able to pay in AUD when you visit New Zealand – so learning about the currency you need is essential. Whether you decide to use a travel debit card from a service like Wise , or stock up on NZD in cash in advance, knowing the mid-market exchange rate can help you get the best available deal. Use this guide to learn all you need to know about the options, rates and fees for exchanging AUD to NZD, and make your money go further while you’re away.

• Decimalization of the NZD (division into 100 cents) took place in 1967 when the New Zealand dollar replaced the New Zealand pound at a rate of two dollars to one pound.
• He is an expert in New Zealand travel and has tested over 600 activities and 300+ accommodations across the country.
• Instead you may find that the AUD/NZD rate you get when exchanging travel cash includes a markup – an extra fee.
• Carrying some money in cash and using a travel debit card from a service like Wise is usually the best way to spend while you’re away from home.
• Here’s a quick overview of a couple of handy travel debit cards you may want to order and use in New Zealand .

A few exceptions to GST are bank services, rent, wages (although that gets another form of tax) and duty-free goods. Gross domestic product is a measurement of the value derived from a country’s production of goods and services over a specific period. Polymer bills can go through a washing machine without suffering any material damage.

However, the chances are that where this is offered, you won’t get a good exchange rate for your AUD. Planning smart and convenient ways to spend in NZD when you’re away is likely to mean you save on costs in the end. Usually, having a few different ways to pay and get cash is the best option for travelers and tourists.

That’s because you’ll have a back up plan in case one payment method isn’t accepted for any reason, and you can pick the method that’s best suited to the specific transaction. Having a multi-currency card from a provider like Wise, plus your normal bank debit card, and some local cash in NZD should mean you’ve always got options. You can use your cash for small purchases and tipping, and make low cost payments and cash withdrawals with your multi-currency card, while keeping your bank card in reserve for emergencies. Introduced in 1967, the NZD replaced the New Zealand pound, aligning the nation’s currency with the decimal system.