New Zealand Dollar (NZD)
New Zealand — Reserve Bank of New Zealand
New Zealand dollar — high-beta commodity currency tied to dairy, agriculture, and global risk.
NZD/USD
0.58795
NZD/USD Exchange Rate
Economic Indicators
| Indicator | Latest | Previous | Change | Date |
|---|---|---|---|---|
| Policy Rate | 3.25 | 3.25 | 0.00 | 2025-05-28 |
| Inflation | 2.7 | 3.0 | -0.30 | 2025-06-30 |
| Core Inflation | 2.7 | 2.7 | 0.00 | 2025-06-30 |
| Gdp | 109.606 | 108.262 | +1.34 | 2025-06-30 |
| Unemployment | 5.2 | 5.3 | -0.10 | 2025-06-30 |
| Trade Balance | 2637.0 | -3457.0 | +6094.00 | 2025-06-30 |
| Retail Sales | 0.0 | -99.99 | +99.99 | 2025-05-31 |
| Ppi | 2.7 | 3.0 | -0.30 | 2025-06-30 |
Reserve Bank of New Zealand Press Releases
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2026-05-06“The global risk environment has worsened over the past six months, as conflict in the Middle East threatens world energy supply”, says Reserve Bank Governor Anna Breman in publishing the Financial Stability Report this morning. “However, New Zealand’s financial system is resilient and well position
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2026-04-30The Monetary Policy Committee (MPC) and the Minister of Finance have agreed changes to the MPC Charter that will provide more transparency and accountability of MPC decision-making.
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2026-04-29On Wednesday 29 April, Governor Dr Anna Breman spoke with a range of business owners, young professionals, and local leaders in Hamilton as part of her regional engagement programme.
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2026-04-08Monetary Policy Review media release and the MPC’s Record of Meeting, which summarises the committee's discussions, leading to the decision.
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2026-03-25Chief Economist Paul Conway delivers a keynote speech at the National Financial Advisers Conference 2026 in Auckland, with this year’s focus titled “Purchasing power and the real cost of living in New Zealand.
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2026-03-24The Reserve Bank of New Zealand (RBNZ) is well positioned to handle the challenges to our price stability and financial stability mandates caused by the ongoing conflict in the Middle East.
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2026-03-20The Reserve Bank of New Zealand – Te Pūtea Matua is expanding its communications approach for the 8 April Monetary Policy Review.
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2026-02-20“To achieve our inflation target, we need to look ahead to the future, while learning from the past and understanding the present”, said Reserve Bank Governor Anna Breman in a speech at a Business Canterbury lunch today.
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2026-02-18Monetary Policy Statement media release and the MPC’s Record of Meeting, which summarises the committee's discussions, leading to the decision.
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2025-12-15In media interviews this week, Governor Dr Anna Breman is speaking about New Zealand’s economic outlook and monetary policy settings.
About the New Zealand Dollar (NZD)
The New Zealand dollar (NZD), nicknamed the 'kiwi', is the official currency of New Zealand and several Pacific dependencies. It is one of the smaller G10 currencies but is among the most traded thanks to its role as a high-yielding commodity proxy.
Reserve Bank of New Zealand: monetary policy framework
The Reserve Bank of New Zealand (RBNZ) Monetary Policy Committee sets the Official Cash Rate (OCR) seven times per year. The RBNZ has a 1–3% CPI inflation target with a midpoint of 2%, and four of its decisions each year are accompanied by a Monetary Policy Statement.
What moves the NZD?
- RBNZ Official Cash Rate and Monetary Policy Statement.
- Global Dairy Trade (GDT) auction prices.
- AU-NZ and US-NZ 2-year yield differentials.
- China and Australia growth — New Zealand's biggest trading partners.
- New Zealand CPI (quarterly) and labour-market data (HLFS).
- Risk sentiment — NZD has high beta to global equity moves.
Key data and events to watch
- RBNZ OCR decision and Monetary Policy Statement.
- Quarterly CPI from Stats NZ.
- GDT dairy auction every two weeks.
- Quarterly Household Labour Force Survey.
- China activity and AUD/NZD cross.
Frequently asked questions about the New Zealand Dollar
Why is the New Zealand dollar called the 'kiwi'?
The New Zealand one-dollar coin features the kiwi, a flightless bird native to New Zealand. Traders adopted 'kiwi' as the FX nickname for the currency in the 1980s.
How often does the RBNZ change interest rates?
The RBNZ Monetary Policy Committee makes seven scheduled OCR decisions per year. Four of those are accompanied by a full Monetary Policy Statement with updated forecasts and a press conference.
How does dairy affect NZD?
Dairy is one of New Zealand's largest single export categories. The fortnightly Global Dairy Trade auction sets reference prices for whole milk powder and other products, and large surprises in those auctions can move the NZD.
All Currencies
🇺🇸 USD — US Dollar
🇪🇺 EUR — Euro
🇬🇧 GBP — British Pound
🇯🇵 JPY — Japanese Yen
🇦🇺 AUD — Australian Dollar
🇨🇦 CAD — Canadian Dollar
🇨🇭 CHF — Swiss Franc
🇳🇿 NZD — New Zealand Dollar
🇨🇳 CNY — Chinese Yuan
🇸🇬 SGD — Singapore Dollar
🇸🇪 SEK — Swedish Krona
🇩🇰 DKK — Danish Krone
🇵🇱 PLN — Polish Złoty
🇧🇷 BRL — Brazilian Real