New Zealand Dollar_flag

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

Did you know?

Montetary policy

check

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.

check

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.

check

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.

check

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.

check

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.

check

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.

background graphic

Important information

Payments in NZD to New Zealand

Key considerations to bear in mind

check

Payment instructions should contain the beneficiary's IBAN, name, and address.

check

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.

check

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

people-to-people
people-to-people

Currency Reference Guide

Get the full currency reference guide, updated by the iBanFirst currency market experts.

iBanFirst S.A. is duly authorised and regulated by the National Bank of Belgium (under CBE number 0849.872.824) as a payment institution. It is a direct member of the SWIFT network and is certified to make payments throughout the SEPA zone. As a payment institution, iBanFirst S.A. only offers hedging solutions (forward, flexible forward and dynamic forward) connected to underlying payment transactions. iBanFirst S.A. does not offer options or any other financial instruments for investment or speculative purposes.