About Monnaie en circulation (NZD)
Currency in circulation for New Zealand measures the total value of banknotes and coins held outside the central bank and the commercial banking system. It is the most liquid component of the money supply.
Why FX traders watch it
Changes in currency in circulation reflect cash demand patterns, including hoarding behaviour during crises or seasonal spending surges. Unusual increases can precede inflationary episodes.
How to interpret the data
Sustained rapid growth in currency in circulation is a liquidity signal. In periods of stress, a surge in cash holdings reduces bank deposits and can tighten financial conditions.