Exchange Rate in New Zealand
New Zealand - Exchange Rate
New Zealand Dollar weakens to multi-year low in September
The New Zealand dollar (NZD) depreciated to 0.63 NZD per USD on 7 September, which was 5.5% weaker than on the same day of the previous month and 24.8% weaker than on the same day of the previous year, bringing the exchange rate to the lowest level in over six years. Despite a slight recovery in recent days, the NZD has been broadly stable since then.
The currency depreciated steadily over the course of the year, largely due to the sharp fall in dairy prices, the country’s key export market. Weaker than expected GDP growth in Q2 and expectations of a rate hike by the Federal Reserve have been putting additional pressure on the currency in recent months, as well as the devaluation of the yuan and ongoing turmoil in emerging markets.
In the RBNZ’s most recent monetary policy meeting on 10 September, the Bank decreased its Official Cash Rate for the third consecutive time, accentuating the depreciation of the NZD against the U.S. dollar. The Bank suggested that further cuts are possible, which could lead to further downward pressure on the currency.
FocusEconomics Consensus Forecast panelists see the New Zealand dollar trading at 0.65 USD per NZD at the end of 2015. For 2016, panelists see the exchange rate closing the year at 0.65 USD per NZD.
New Zealand - Exchange Rate Data
|Exchange Rate (vs USD)||0.68||0.69||0.71||0.67||0.67|
5 years of economic forecasts for more than 30 economic indicators.
New Zealand Exchange Rate Chart
Source: Thomson Reuters.
New Zealand Facts
|Bond Yield||1.67||1.20 %||Dec 30|
|Exchange Rate||0.67||-1.69 %||Jan 01|
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November 24, 2021
At its 24 November meeting, the Reserve Bank of New Zealand (RBNZ) decided to hike the official cash rate to 0.75% from 0.50%, marking the second consecutive increase.
November 12, 2021
The ANZ bank business outlook indicator dropped in November.
November 10, 2021
The ANZ-Roy Morgan consumer confidence indicator fell to 98.0 in October from September’s 104.5.
November 4, 2021
The seasonally-adjusted unemployment rate fell to 3.4% in Q3 from 4.0% in the previous quarter, logging the lowest print since Q3 2007.
October 25, 2021
Consumer prices soared 2.2% from the previous quarter in Q3, coming in above Q2’s 1.3% jump.