Exchange Rate in New Zealand

New Zealand Exchange Rate | Economic News & Forecasts

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

2015   2016   2017   2018   2019  
Exchange Rate (vs USD)0.68  0.69  0.71  0.67  0.67  

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New Zealand Exchange Rate Chart

New Zealand Exchange Rate
Note: New Zealand dollar (NZD) per U.S. dollar.
Source: Thomson Reuters.

New Zealand Facts

Value Change Date
Bond Yield1.671.20 %Dec 30
Exchange Rate0.67-1.69 %Jan 01

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