Exchange Rate in New Zealand
New Zealand - Exchange Rate (average of period)
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 (aop) Data
|Exchange Rate (vs USD, aop)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
New Zealand Exchange Rate (aop) Chart
Source: Thomson Reuters.
New Zealand Facts
|Bond Yield||1.56||1.20 %||Jul 11|
|Exchange Rate||0.67||-1.69 %||Jul 11|
|Stock Market||4,659||0.11 %||Jul 11|
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July 16, 2019
Consumer prices increased 0.6% in Q2 2019 over the previous quarter, up notably from Q1 0.1% uptick, according to Statistics New Zealand.
June 28, 2019
The ANZ-Roy Morgan consumer confidence indicator rose to 122.6 in June (May: 119.3), moving further above the 100-point threshold that separates optimism from pessimism among consumers. Consumers were more optimistic about their current financial situation, and they also grew more confident about their future financial conditions.
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June 26, 2019
On 26 June, the Reserve Bank of New Zealand (RBNZ) left the official cash rate (OCR) unchanged at an all-time low of 1.50%.
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