Countries that use the NZD
Currency Exchange Rates for New Zealand dollar? Convert GBP to NZD at todays exchange rate. See money transfer for New Zealand and historical to restrictions.
New Zealand: CURRENCY AND ECONOMY
What is the New Zealand dollar?
It is the official currency of New Zealand. Its ISO 4217 code is NZD. It also circulates in the Cook Islands, Niue, Tokelau and the Pitcairn Islands. The 'NZ' in the symbol distinguishes it from other currencies called 'dollar' or using the dollar symbol - '$'. The New Zealand dollar is in the top 10 currencies in the world, and has application of 2% of the global currency market.
In the currency market the New Zealand dollar is commonly called "kiwi" and is one of the 10 most traded currencies worldwide, its abbreviated as NZD or NZ $.
The New Zealand Dollar is available in the following denominations: Coins: 10c, 20c, 50c, $ 1 and $ 2; Bills: $ 5, $ 10, $ 20, $ 50 and $ 100.
The Reserve Bank is the New Zealand Central Bank. The New Zealand dollar is among the top 25 nominal sovereign currencies.
In addition, according to the Reserve Bank of New Zealand, the country's economy is expected to grow from 2 to 3% per year.
What is the Inflation Rate?
Inflation rate is the widespread and sustained increase in the price level in the market over a period of time, often one year.
New Zealand has a low inflation environment and a monetary policy managed by an independent central bank, which maintains price stability.
From 1918 to 2017, the rate of inflation in New Zealand averaged is 4.72 percent. These data reflects that it has reached a historic record of 44 percent in the third quarter of 1918 and a record low of -15.30 percent in the first quarter of 1923.
The flexible exchange rate is a long-standing economic policy. There are no exchange controls or restrictions on bringing or repatriating funds.
Consumer prices in New Zealand increased 1.7 percent year-on-year in the second quarter of 2017. This is below market expectations of 1.9 percent and 2.2 percent in the previous period. This period was the highest in five years.
The rate of inflation declined for the first time in six quarters, mainly due to a slight increase in prices of housing, utilities and transportation. In addition, there was a more pronounced decrease in the cost of communication.
The New Zealand dollar contributes in a very important part to the total exchange of currencies in the market, in excess when is compared with its population.
According to data published by Bank for International Settlements, the exchange of the New Zealand dollar in the foreign exchange market represented a daily average of 1.6% of the total volume.
Because the New Zealand dollar has been a currency whose value derives from government regulation over a lake period of time, high inflation rates can be seen in the history of New Zealand's economy.
From GBP to NZD
The GBP is the currency of the United Kingdom as well as the Crown Dependencies and British Overseas Territories. The pound sterling is the fourth most traded currency in the international exchange market behind the dollar, the euro and the Japanese yen.
Currently the exchange rate is this:
1 GBP = 1.74906 NZD
GBP New Zealand Dollar
1 GBP = 1.74906 NZD 1 NZD = 0.571735 GBP
Currency Information on New Zealand Dollar - NZD — New Zealand dollar – NZ$
Coins are available in denominations of 10c, 20c, 50c, $1 and $2, whilst banknotes in circulation are available in denominations of $5, $10, $20, $50 and $100.
The New Zealand dollar is the official currency of New Zealand, the Cook Island, the Ross Dependency, Niue, the Pitcairn Islands and Tokelau.
The ‘NZ’ in the symbol distinguishes it from other currencies called ‘dollar’ or using the dollar symbol – ‘$’. The New Zealand dollar is in the top 10 traded currencies in the world, and holds app. 2% of the global foreign exchange market.
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Comment written by Tom Francis Entrepreneur London.
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