New Zealand Dollar
The New Zealand Dollar, often known as the 'Kiwi', is the official currency of New Zealand. Its currency code is NZD, and its symbol is $. The Reserve Bank of New Zealand is the country's central bank, responsible for issuing and regulating the New Zealand Dollar.
Convertible:Yes
Transferable:Yes
Exchange rate regime:Floating
Available currency pairs
Transaction types
FX
Spot
Delivery date
T+1; T+2
Liquidity
High
FX
Forward
Maximum maturity
24 months
Liquidity
High
Did you know?
The primary objective of New Zealand's monetary policy, as implemented by the Reserve Bank of New Zealand, is to maintain price stability. The Bank aims to keep inflation within a target range of 1% to 3% on average over the medium term, with a focus on keeping future average inflation near the 2% target midpoint.
The Reserve Bank uses the Official Cash Rate (OCR) as its main tool to influence inflation. Changes in the OCR can influence other interest rates, such as those on savings and investments, thereby affecting spending and investment decisions, which ultimately impact inflation.
Key Features of NZD
The New Zealand Dollar is divided into 100 cents. Coins come in denominations of 10, 20, and 50 cents, and 1 and 2 dollars. Banknotes are issued in denominations of 5, 10, 20, 50, and 100 dollars.
New Zealand Dollar banknotes and coins feature a variety of designs, including notable figures from New Zealand's history, native birds, and local cultural symbols. For example, the 1 dollar coin depicts a Kiwi bird, a national symbol of New Zealand.
Expert Opinion
Financial experts regard the New Zealand Dollar as a commodity currency, as it's often influenced by the prices of commodities such as dairy products and meat, which are significant exports of the country. The NZD is also considered a risk-sensitive currency, meaning its value can fluctuate based on global economic conditions and investor sentiment.
NZD Regulations
The Reserve Bank of New Zealand is responsible for the regulation of the New Zealand Dollar. It controls the issuance of new notes and coins, sets monetary policy, and supervises the country's financial system to ensure its stability.
Important information
Payments in NZD to New Zealand
Key considerations to bear in mind
Payment instructions should contain the beneficiary's IBAN, name, and address.
Payment Processing Time
The time taken for a payment to reach the recipient's bank account can vary. Domestic transfers within New Zealand are typically processed quickly, while international transfers may take a few business days. Consider the processing time when planning your payment to ensure timely delivery. The iBanFirst Payment Tracker can help you track those payments, and ensure a smooth and efficient payment experience.
Fees and Charges
Banks and financial institutions may apply fees and charges when processing international payments. These fees can vary, so it is advisable to check with your bank to understand the charges associated with your transaction. Check out iBanFirst’s Savings Calculator to estimate how much you could save on your next international payment.
Keep in mind
Bank holidays
01
January
New Year's Day
02
January
Day after New Year's Day
06
February
Waitangi Day
25
April
ANZAC Day
25
December
Christmas Day
26
December
Boxing Day
Good Friday
Varies
Easter Monday
Varies
King's Birthday
First Monday in June
Labour Day
Fourth Monday in October
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