Live and Historical EUR/NZD Rates
This chart shows the value of the euro (EUR) against the value of the New Zealand dollar (NZD) or how many NZD can purchase one EUR. The New Zealand dollar is also known as the “kiwi” or the “kiwi dollar.” EUR/NZD does not form a major pair or a commodity pair; however, the euro is a major currency.
These two currencies have a very distant relationship. As a smaller economy, New Zeland primarily trades with Australia and Asian countries. This provides excellent opportunities for profit from large value differentials, but it also offers a high risk. The best way to think of this pair is as representative of southeastern Asian economies against the Eurozone. There are also occasional opportunities based on agriculture prices (New Zealand’s primary industry). At times, this pair has been profitable for carry trading.
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The euro is used in a majority of the nations of the European Union. A few notable holdouts to adopting EUR as their official currency are Switzerland and the United Kingdom. This throws into question the lasting strength of the euro. Since 1999, the euro has grown to represent 21 countries in Europe. That is the buying power of over 327 million people. The euro also influences the values of 23 different countries in the world market, 50 percent of which are in Africa. There is no doubt that the euro’s reach is far, but with weakening economies in some of the Eurozone countries and the question of shared fiscal control, the stamina of the euro will remain under scrutiny.
The New Zealand Dollar
At its introduction to the world market in 1967, the New Zealand dollar derived its value from the US dollar. That all changed in 1985 when NZD became a floating currency. Being low in the top twelve currencies traded, the New Zealand dollar’s value is greatly affected by interest rates and currency trade. The early 2000s were rough on NZD, seeing its value drop to half the US dollar, but values have turned up for NZD since then. The New Zealand dollar got its nickname from the bird pictured on the coin. It is also used as the currency for four other countries – Tokelau, Niue, the Pitcairn islands, and the Cook Islands. The primary industries are agricultural.