Currency · NZD · NZ$

New Zealand dollar (NZD)
exchange rate

The New Zealand dollar is the official currency of New Zealand, nicknamed the "kiwi". A commodity currency closely watched on the foreign exchange market, convert it at the real interbank rate, in real time, with a transparent margin from 0.40%.

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NZDISO code · NZ$
RBNZCentral bank
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The New Zealand dollar in brief

The essentials on the New Zealand dollar (NZD)

The key facts about the "kiwi", one of the most traded commodity currencies, and how to convert it at a fair rate.

ISO code NZD, symbol NZ$

The official currency of New Zealand, nicknamed "kiwi" after the bird featured on the 1-dollar coin.

Managed by the RBNZ

The Reserve Bank of New Zealand conducts monetary policy with an inflation target of 1 to 3%.

Commodity currency

Its value is tied to agricultural exports (dairy products) and to Asian demand, notably from China.

Exchange from 0.40% at ibani

A sliding, transparent margin applied to the real rate, with no hidden fees.

Our experts' analysis

The kiwi, currency
of the great agricultural exporters.

The New Zealand dollar (NZD), nicknamed the "kiwi", is a commodity currency. Its value is closely correlated with New Zealand's agricultural exports, particularly dairy products, which weigh heavily on the country's revenues.

The NZD is also popular for carry-trade strategies and remains sensitive to Asian demand, notably from China. These characteristics make it a relatively volatile currency : tracking agricultural commodity prices and RBNZ decisions helps anticipate its movements and optimise your exchange operations.

NZD key facts
ISO codeNZD · NZ$
Central bankRBNZ
Area of useNew Zealand
Notable featureCommodity currency
Monetary policy

RBNZ policy and the New Zealand dollar

The Reserve Bank of New Zealand (RBNZ) is responsible for the country's monetary policy. Its mandate targets price stability, with an inflation target between 1% and 3% over the medium term, around a 2% midpoint, in order to support sustainable growth.

To achieve this, the RBNZ relies mainly on :

The Official Cash Rate (OCR)

Introduced in 1999, the Official Cash Rate is the RBNZ's central instrument. Its adjustments steer the cost of credit and directly influence the value of the kiwi.

A pioneer of inflation targeting

The first central bank in the world to formalise an inflation target (from 1989-1990), the RBNZ has made transparency a pillar of its credibility.

As the country is a major exporter of agricultural commodities, the RBNZ's decisions interact with dairy product prices and the Asian economic climate. Its rate announcements have a direct impact on the strength of the New Zealand dollar and the competitiveness of exports.

History of the New Zealand dollar

The key dates in its history

1967

Birth of the New Zealand dollar

The New Zealand dollar replaces the New Zealand pound as part of the decimalisation of the country's currency.

1985

Free float of the kiwi

New Zealand lets its currency float freely on the foreign exchange market, abandoning any peg to a basket of currencies.

1989-1990

Independence and inflation targeting

The Reserve Bank Act grants the RBNZ its independence and makes New Zealand the world pioneer of inflation targeting.

1999

Creation of the Official Cash Rate (OCR)

The RBNZ adopts the Official Cash Rate as the central, transparent instrument for implementing its monetary policy.

2021-2023

Monetary tightening cycle

Faced with post-pandemic inflation, the RBNZ sharply raises its policy rate, among the first major hiking cycles worldwide.

2024

Start of easing

As inflation falls back towards target, the RBNZ begins a cycle of cuts to its policy rate.

Today's rates

Our rates for the New Zealand dollar (NZD)

Indicative value for 1 unit, ibani margin included. Click a pair for its detail and history.

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Frequently asked questions

Frequently asked questions about the New Zealand dollar (NZD)

Always compare the rate offered with the real interbank rate (mid-market). A specialised online exchange service like ibani starts from this real rate and adds only a transparent margin from 0.40%, with no hidden fees, whereas a bank often applies a much wider spread. Compare with our rate comparator.

The New Zealand dollar is managed by the Reserve Bank of New Zealand (RBNZ), which conducts monetary policy through its official policy rate (Official Cash Rate). Its mandate aims to keep inflation between 1% and 3% over the medium term, around a 2% midpoint.

Nicknamed the "kiwi", the New Zealand dollar is a commodity currency : its value is strongly linked to the country's agricultural exports, particularly dairy products. Its sensitivity to Asian demand and its status as a carry-trade currency accentuate its volatility.

You can convert the New Zealand dollar (NZD) into Swiss francs (CHF) and euros (EUR), as well as other major currencies such as the US dollar, pound sterling, Canadian dollar and Singapore dollar. Check our converter for the full list of available currencies.

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