The U.S. dollar is the currency most used in international transactions. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. Or if you prefer an offline solution you can carry some cash in AUD to exchange when you arrive.
Initially pegged to the United 50 pips a day forex day trading strategy States dollar, NZD went through a series of changes in the fixed exchange rate until March of 1985, when the currency was allowed to float freely. You’ll be able to use a travel debit card from a provider like Wise to make convenient payments and cash withdrawals and to convert funds online. 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.
Check live rates, send money securely, set rate alerts, receive notifications and more. However, generally having How to buy dent a few different payment methods is a good plan. That means that if a merchant won’t accept one, you’ve got a back up.
Other economic factors, such as growth rate, GDP, unemployment, and inflation are strong and, therefore, lead to a strong currency. It is estimated that the polymer note lasts four times longer than regular linen or paper notes. Interestingly, the polymer note can go through a washing machine without suffering any material damage.
What Is New Zealand’s Third Largest Trading Partner?
Gross domestic product is a measurement of the value derived from a country’s production of goods and services over a specific period. The country’s top industries include agriculture, dairy, forestry, fishing, mining, and tourism. New Zealand is one of the world’s largest exporters of whole milk powder so the NZD would most likely benefit if milk prices rise. The kiwi also circulates in Tokelau, Pitcairn Islands, Niue, and the Cook Islands in addition to being the official currency of New Zealand. New Zealand bill denominations include $5, $10, $20, $50, and $100.
- New Zealand currency has had a long history of over 160 years.
- Our smart tech means we’re more efficient – which means you get a great rate.
- Today the currency in New Zealand is the New Zealand dollar.
- A kiwi is a bird indigenous to New Zealand and is featured on the $1 coin.
New Zealand dollars to US dollars today
Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. Wise atfx trading platform gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. A new series of notes, known as Series 5 was introduced in 1992.
Current circulating banknotes
Australia ranks as New Zealand’s second-largest trading partner behind China. The neighboring country reports 6.2% of New Zealand imports in 2023. The performance of Australia’s economy has a significant impact on the New Zealand dollar as a result. The New Zealand dollar is considered a carry-trade currency in that it is relatively high-yielding so investors will often buy the NZD and fund it with a lower-yielding currency such as the Japanese yen or the Swiss franc. In 1986, New Zealand adopted Raphael Maklouf’s new portrait of the Queen.
Current exchange rates
Each banknote and coin of New Zealand’s currency looks different. The currency usually has a bird on one side of a banknote or coin as well as an important historical figure of New Zealand. 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.
The New Zealand dollar (NZD) is the official currency of New Zealand. NZD is made up of 100 cents and is often represented by the symbol $ or NZ$ to set it apart from other currencies based on dollars. NZD also sees use in the Cook Islands, Niue, Tokelau, and the Pitcairn Islands. On the introduction of the dollar, coins came in denominations of 1c, 2c, 5c, 10c, 20c, and 50c. The obverse designs of all the coins featured Arnold Machin’s portrait of Queen Elizabeth II, with the legend ELIZABETH II NEW ZEALAND date.
The obverse of each note featured a notable New Zealander, while the reverse featured a native New Zealand bird and New Zealand scenery. In 1999, series 6 polymer notes replaced the paper notes. The designs remained much the same, but were changed slightly to accommodate new security features, with the most obvious changes being the two transparent windows. The New Zealand dollar is the official currency of New Zealand.