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Compare New Zealand dollar travel money rates

Get the best New Zealand dollar exchange rate by comparing travel money deals from the UK's top foreign exchange providers

Best New Zealand dollar exchange rate

If you're travelling to New Zealand, it's important to shop around and compare currency suppliers to maximise your chances of getting a good deal. We can help you to find the best New Zealand dollar exchange rate by comparing a wide range of UK travel money suppliers who have New Zealand dollars in stock and ready to order online now. Our comparisons automatically factor in all costs and commission, so all you need to do is tell us how much you want to spend and we'll show you the top suppliers who fit the bill.

Compare before you buy

Some of the best travel money deals are only available when you buy online. By using a comparison site, you're more likely to see the full range of deals on offer and get the best rate.

Order online

Always place your order online, even if you plan to collect your currency in person. Most supermarkets and high street currency suppliers offer better exchange rates if you order online beforehand.

Combine orders

If you're travelling with others, consider placing one large currency order instead of buying individually. Many currency suppliers offer enhanced rates that improve as you order more.

The best New Zealand dollar exchange rate right now is 2.0513 from Travel FX . This is based on a comparison of 18 currency suppliers and assumes you were buying £750 worth of New Zealand dollars for home delivery.

The best New Zealand dollar exchange rates are usually offered by online travel money companies who have lower operating costs than traditional 'bricks and mortar' stores, and can therefore offer better currency deals than their high street counterparts.

For supermarkets and companies who sell travel money online and on the high street, it's generally cheaper to place your order online and collect it from the store rather than turning up out of the blue and ordering over the counter. Many stores set their 'walk-in' exchange rates lower than their online rates because they can. By ordering online you're guaranteed to get the online rate and you can collect your order from the store as usual.

New Zealand dollar rate trend

Over the past 30 days, the New Zealand dollar rate is up 0.69% from 2.0513 on 25 Dec to 2.0655 today. This means one pound will buy more New Zealand dollars today than it would have a month ago. Right now, £750 is worth approximately $1,549.13 which is $10.65 more than you'd have got on 25 Dec.

These are the average New Zealand dollar rates taken from our panel of UK travel money providers at the end of each day. You can explore this further on our British pound to New Zealand dollar currency chart .

Timing is key if you want to maximise your New Zealand dollars, but the best time to buy will depend on the current market conditions and your personal travel plans.

If you have a fixed travel date, you should start to monitor the New Zealand dollar rates as soon as possible in the period leading up to your departure so that you've got time to buy when the rate is looking favourable. For example, if the New Zealand dollar rate has been steadily increasing over several weeks or months, it could be a good time to buy while the rate is high.

Some people prefer to buy half of their New Zealand dollars as soon as they've booked their holiday, and the remaining half just before they depart. This can be a good way of maximising your holiday money if the exchange rate continues to rise after you've bought, but will also help to minimise your losses if the rate drops.

You could also consider signing up to our newsletter and we'll email the latest rates to you each month.

If you need your New Zealand dollars sooner and don't have time to wait for the rates to improve, you can still save money by comparing rates from a range of different providers before you buy. Online travel money suppliers usually have better New Zealand dollar rates than high street exchanges, but supermarkets are a good compromise if you want to collect your currency in person and still get a decent rate. Just remember to buy or reserve your New Zealand dollars first before you collect them from the store so you benefit from the supplier's better online rate.

New Zealand dollar banknotes and coins

One New Zealand dollar ($) can be subdivded into 100 cents (c).

There are five denominations of New Zealand dollar banknotes in circulation: $5, $10, $20, $50 and $100; and five coin denominations: 10c, 20c, 50c, $1 and $2.

New Zealand $1 coins feature a kiwi on the reverse, and the currency is informally referred to as 'Kiwi dollars' after the country's national bird.

There's no evidence to suggest that you'll get a better deal if you buy your New Zealand dollars in New Zealand. While there may be better exchange rates available in some locations, your options for shopping around may be limited once you arrive, and there's no guarantee the exchange rates will be any better than they are in the UK.

Exchange rates aside, here are some other reasons to avoid buying your New Zealand dollars in New Zealand:

  • You may have to pay commission or other hidden fees to a currency exchange that you wouldn't have paid in the UK
  • Your bank may charge you a foreign transaction fee if you use it to buy New Zealand dollars when you're abroad
  • It can be harder to spot scammers and fraudulent currency exchanges in New Zealand

Lastly, it can be handy to have some cash on you when you arrive at your destination so you can pay for any immediate expenses like food, transport and tips. You don't want to be searching for the nearest currency exchange when you've just landed and you're desperate for a cup of tea - or a cocktail!

Choosing the right payment method

Sending money to a company you might not have heard of before can be unsettling. We routinely check all the companies that feature in our comparisons to make sure they meet our strict listing criteria, but it's still worth knowing how your money is protected in the unlikely event a company goes bust and you don't receive your order.

Bank transfer

Your money is not protected if you pay by bank transfer. If the company goes bust and you've paid by bank transfer, it's unlikely you'll get your money back. For this reason, we recommend you pay by debit or credit card wherever possible because they offer more financial protection.

Debit cards are the most popular payment method and they offer some financial protection. If you pay by debit card and the company goes bust, you can instruct your bank to make a chargeback request to recover your money from the company's bank. This isn't a legal right, and a refund isn't guaranteed, but if you make a chargeback request your bank is obliged to try and recover your money.

Credit card

Credit cards offer full financial protection, and your money is protected by law under Section 75 of the Consumer Credit Act. Section 75 states that your card issuer must refund you in full if you don't receive your order. Be aware that many credit cards charge a cash advance fee (typically around 3%) for buying currency, so you may have to weigh up the benefits of full financial protection with the extra cost of using a credit card.

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New Zealand currency & costs

How to pay for things in New Zealand and a guide to general costs.

On this page:

The average price of:

Currency exchange  

Bringing cash into new zealand  , banking  .

  • Tipping and s ervice c harges  

Goods and Services Tax (GST)  

  • Swedish Rounding

Peak seasons in New Zealand  

Accommodation  .

  • Transport    
  • Food and drink    

Currency and payment in New Zealand  

New Zealand’s unit of currency is the dollar (NZD$). All major credit cards are accepted in New Zealand, with Visa and Mastercard the most widely used. Many retailers in main centres also have Apple Pay. Travellers’ cheques are no longer accepted.   

You can exchange foreign currency for New Zealand currency at banks, some hotels and Bureau de Change kiosks, which are in international airports and most city centres.  

New Zealand currency is available in:  

  • Coins with values of 10, 20 and 50 cents, $1 and $2.  
  • Notes with values of $5, $10, $20, $50 and $100.  

Check the current currency rate with this currency converter .   

Back to the top

There is no restriction on the amount of foreign currency that can be brought in or taken out of New Zealand. However, every person who carries more than NZ$10,000 in cash in or out of New Zealand is required to complete a Border Cash Report (opens in new window) .  

Bank opening hours in New Zealand vary, but branches are generally open from 9.30am to 4.30pm Monday to Friday. Some are also open during weekends. Automated Teller Machines (ATMs) are available at bank branches, along main shopping streets and in malls. International credit cards and ATM cards will work as long as they have a four-digit PIN encoded. Check with your bank before leaving home.  

Tipping and service charges  

Tipping in New Zealand is not obligatory, even in restaurants and bars. However, tipping for good service or kindness is at the discretion of the visitor. Hotels and restaurants in New Zealand do not add service charges to their bills.  

All goods and services in New Zealand are subject to a Goods and Services Tax (GST) of 15%, which is included in the displayed price. Visitors cannot claim this tax back, but if a supplier ships a major purchase to a visitor's home address the GST will not be charged.  

Swedish Rounding  

Due to the discontinuation of 1c, 2c and 5c pieces, purchases made in New Zealand are subject to “rounding” of amounts either up or down. New Zealand’s Reserve Bank believes most retailers are adopting the Swedish Rounding System. Under this system, prices ending in 1 to 4 cents will be rounded down, and prices ending in 6 to 9 cents will be rounded up. For example, a purchase of $15.14 would be rounded down to $15.10, and a purchase of $15.16 would be rounded up to $15.20. It is at the retailer’s discretion how they handle prices ending in 5 cents.  

How much do things cost in New Zealand?   

Prices for accommodation, flights and vehicle hire can fluctuate during busy seasons. The peak times are around Christmas and high summer (December through to early March) across the country, and in winter (June to August) for popular ski areas such as Queenstown and the central North Island. School holidays are also very busy times. It is advisable to book well ahead if you’re planning to travel over those periods. Visiting in the low or shoulder seasons in between can mean better deals and more choice.  

Pricing will depend on the location, time of year, and day of the week, so the below is just to give a general idea of cost. Use our accommodation finder to see price ranges for your specific needs.  

  • Campsite : NZ$10-$35 per person  
  • Dorm bed in a  hostel/backpackers : NZ$17-$35 per night  
  • 3-star  motel  /  hotel  room: NZ$80-$200 per night  
  • 4- to 5-star hotel: NZ $200 and above per night  

bed Search for accommodation

Transport   .

Vehicle hire prices can vary greatly depending on the time of year, the type of car/motorhome you want to hire and how long you are hiring it. Use our Transport finder below to check prices on supplier websites or contact them directly. The price of petrol (gas) can fluctuate daily and may differ slightly between regions. It is always indicated on signs outside petrol stations or at the pump.  

The price of domestic flights varies between airlines depending on demand, so check pricing on their websites. You can find more information on other transport options here.

bus Search for transport

Food and drink   .

This will vary widely depending on whether you’re ordering takeaways, eating at a casual café or at a fine dining restaurant. The following is a rough guide to food and beverage costs in New Zealand.  

  • McDonald’s Big Mac Hamburger: $8.70   
  • Café sandwich: $5-$10  
  • Main meal at casual dining restaurant: $20-$35  
  • Large coffee: $5-$6  
  • Can of soft drink: $3-$5  
  • Pint of beer: $10-$16  
  • Glass of wine: $10-16  
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Travel money guide: New Zealand

Our guide will empower you to have the best combination of travel money when heading to new zealand.

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In this guide

Travel card, credit card or debit cards?

These are your options for spending money in new zealand, compare travel credit cards, buying currency in the us, atms in new zealand, what should i budget for my trip to new zealand, find travel insurance for your trip to new zealand.

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Top picks of 2021

Since the Lord of the Rings, the land of the long white cloud has been growing in popularity as a destination for tourists. But you should know the best way to access New Zealand dollars — called the kiwi — when you’re there. Credit cards, debit cards, and cash are all accepted without issue.

A credit card will serve you best during your Tasman travels, particularly one that doesn’t come with foreign transaction fees. But debit cards and cash can still work perfectly well.

Our picks for traveling to New Zealand

50+ currencies supported

Wise Multi-currency logo

  • 4.33% APY on USD balances
  • $0 signup or subscription fees
  • Withdraw $100 per month for free from ATMs worldwide
  • Send, spend and withdraw 50+ currencies at the live rate
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For multi-currency accounts

Revolut logo

  • $0 to $16.99 per month
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Join to save up to 10% on hotels

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  • 0.50% APY on checking balance
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Visa and Mastercard are accepted almost everywhere — nearly 75% of all transactions in New Zealand are done with cards. Get cash over the counter with your debit cards or find a ATM.

Whether you’re doing a quick business trip or taking a long vacation, it’s smart to have a couple of ways to access your money. Travel-friendly debit cards will let you spend in New Zealand dollars, but most travel cards apply an international ATM withdrawal fee.

A credit card gives you access to an emergency line of credit and can be used for interest free purchases, and some cards offer extras like insurance as well. Choose a mix that suits your needs.

stack of credit cards

Using a credit card

Look for a card that doesn’t charge a foreign transaction fee, like the Capital One VentureOne Rewards Credit Card (Terms apply, see rates & fees ). Some credit cards also offer complimentary travel insurance as well as other travel benefits, including the ability to earn miles on purchases.

Finding the best card for your travel habits can save you a lot of money in the long run, so compare travel cards carefully before making your final decision.

  • Protected by PIN and chip
  • Accepted worldwide
  • Some offer complimentary travel insurance
  • Interest-free purchases when account is paid in full
  • Emergency card replacement
  • Cash advances can charge high interests and fees
  • Higher spending limit (depends on your approved credit limit)
  • Attracts an annual fee

Explore top debit cards with no foreign transaction fees and travel credit cards by using the tabs to narrow down your options. Select Compare for up to four products to see their benefits side by side.

  • Credit cards

Debit card being swiped in a POS station

Using a debit card

A debit card is a great travel money choice for New Zealand. You’ll have access to cash each time you come across an ATM, without carrying lots of cash on you all at once. Because you’re spending your own money, you avoid interest charges. Find a card that waives the fee for international ATM withdrawals and doesn’t charge a monthly account keeping fee, like the kind offered by Betterment Checking .

  • Tip: A debit card can be used to shop over the counter, online and for ATM withdrawals in New Zealand.
  • Access to money at ATMs
  • Debit cards will not incur an interest rate
  • International ATM withdrawal fees may apply
  • Currency conversion fees
  • No emergency funds

tourist rates new zealand dollar

Using a prepaid travel card

**Unfortunately, right now there are no travel cards in the US that allow you to load NZY.

Travel cards can lock in conversion rates once you load USD. Use it for purchases without worrying about rates each time you spend — debit and credit cards often charge 3% for each transaction.

  • Ability to lock in the exchange rate
  • Secured by PIN and chip technology
  • Emergency card replacement and backup cards
  • Easily reloadable via a secure online platform
  • International ATM withdrawal fees, card issue fees and initial load fees may apply
  • Reload fees could be high
  • Some charge for inactivity fee

Hand giving cash to other hand

Paying with cash in New Zealand

Currency exchange offices charge a commission to do the exchange, and they also make money off a margin applied to the exchange rate.

You can always send your money to New Zealand ahead of time with a money transfer service and have it waiting to be picked up when you arrive.

  • Greater payment flexibility
  • Convenience
  • Difficult to manage expenses
  • Higher risk of theft

tourist rates new zealand dollar

Using traveler’s checks

Traveler’s checks have been replaced by debit, credit and travel money cards. A cheaper way to get cash in New Zealand is to make an ATM withdrawal, especially if your card provider has a relationship with the bank of the ATM you use.

The main advantage of traveler’s checks is they can be replaced if lost or stolen.

  • Security: You must present ID to cash them
  • Availability to cash at banks
  • Secure and can be easily replaced if lost or stolen
  • Money back guarantee if you’re a victim of card fraud
  • Cashing checks is subject to a commission
  • Currency exchange rate varies over time

If you want to exchange your currency, have a look at these companies that can sell you foreign cash. Travelex has outlets at major airports and you can make an order online and collect the New Zealand cash before you get on the plane.

  • American Express
  • Wise (TransferWise)

You can bring the US dollar equivalent of $10,000 New Zealand dollars with you. If you take any more than this, you have to declare your cash when you pass through customs. You’ll get a better deal if you wait to get your money changed in New Zealand, even better if you make a withdrawal from an ATM rather than use a money exchange service.

Exchange rates using your card

When you use your credit card, debit card or travel card to make a purchase in New Zealand, the exchange rate set in place by your card applies to the transaction. When you use your card for over the counter purchases, you’ll get a rate which is a touch above the market rate. The same when you make a withdrawal from an ATM.

Refreshing in: 60s | Wed, Jan 24, 03:54AM GMT

Here are what some of the banknotes look like:

The main banks in New Zealand are:

  • ANZ Bank New Zealand
  • Bank of New Zealand
  • Co-operative Bank
  • Industrial and Commercial Bank of China (New Zealand) Limited
  • Rabobank New Zealand
  • Westpac New Zealand

You should have little issue finding a convenient ATM location during your New Zealand travels. Remember to use a card that doesn’t charge foreign ATM fees, like a debit card from Betterment Checking.

The opportunities for exploration and adventure opens up the possibility of blowing your budget. If you want to get around the country, you’ll need to rent a car — and it can be pricey. If you rely on busses or staying in one place, you can budget less than $50 a day. But for a more adventurous vacation, a realistic budget ranges from $130 to $350 a day. All prices are in US dollars.

Prices are for example purposes only.

Case study: Mike's experience

Mike profile photo

Mike goes skiing in Queenstown: The adventure capital of the world

Mike says Queenstown has the best skiing experience in New Zealand. The snow, the nightlife, the food and atmosphere are all top notch.

What are your travel money tips?

Mike says if you’re traveling by shuttle bus to the peaks, purchase the tickets in bulk. A single ticket costs $15, but there’s discounts for purchasing packs of 10 or 15 tickets at a time.

New Zealand offers travelers a wondrous land to explore, from ski fields to volcanic hot springs, there are plenty of things for the family to enjoy.

But with every journey comes and element of risk, which is why there is travel insurance to protects against far more than just health issues. Travel insurance covers the following:

  • Trip cancellation
  • Lost luggage
  • Personal liability
  • Lost travel documents

Don’t let your vacation turn into a nightmare, compare travel insurance policies today.

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Kyle Morgan

Kyle Morgan is SEO manager at Forbes Advisor and a former editor and content strategist at Finder. He has written for the USA Today network and Relix magazine, among other publications. He holds a BA in journalism and media from Rutgers University.

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The rate displayed is based on 1 NZD. All rates are online buy rates only, are subject to change without notice, and may differ in store. For our sell rates, please contact your nearest store for the most up to date rate available.

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NZ Currency Exchange: Best Places to Exchange Money in New Zealand

Where to get the cheapest currency exchange in new zealand.

A fiddly but compulsory aspect of planning a trip to New Zealand is getting some New Zealand Dollars . In order to avoid paying for everything on your credit/debit card, in turn, paying unnecessary fees, it’s a good idea to just pay one (or two or three) currency exchange fees and pay your way with cash. But where are the best places to exchange money in New Zealand? Find out with this New Zealand currency exchange guide.

To compare the different methods of paying for things in New Zealand, including cash, debit and credit cards, check out   The Best Way to Pay in New Zealand .

Is it Better to Exchange Money in New Zealand or Overseas?

Better exchange rates, therefore cheaper currency conversions, to the New Zealand Dollar, can be found in New Zealand compared to overseas. This is often due to overseas currency exchange bureaus and banks having to buy in the New Zealand Dollar themselves before selling it to customers. Of course, there are exceptions, but if you’re unsure whether your local overseas currency exchange bureau offers a good deal, the general rule is that you’ll likely get cheaper exchange rates in New Zealand.

Exchanging currency overseas, however, does come with the benefit of being prepared with some New Zealand Dollars before arriving in New Zealand. This often brings peace of mind knowing that exchanging currency is something you can remove from your list of things to do on arrival .

Currency Exchange at New Zealand Airports

Your first encounters with currency exchange bureaus in New Zealand are at international airports. Travelex is the only currency exchange you’ll find in New Zealand airports , including Auckland , Christchurch and Queenstown . With no competition in the airports, their exchange rates and fees are at a premium.

On the other hand, exchanging currency at the airport is often the most convenient way to exchange money in New Zealand, considering most travellers arrive through these airports. Exchanging currency at the airport means that you don’t have to spend time finding currency exchange bureaus later.

By the way, make sure you check out our guide,  Arriving in New Zealand: Airport Customs, Biosecurity & the Arrival Process so you’re prepared for all of the arrival formalities.

Currency Exchange in New Zealand Cities

The currency exchange bureaus in New Zealand’s cities tend to offer much better value than what is found at the airport. Because there are several currency exchange bureaus, there’s more competition to keep prices competitive.

If you want to get the best deal, we recommend doing your own research. Visit several currency exchange bureaus and write down their percentage fees/fixed rate plus the exchange rate. Or easier, just ask how much they’ll give for your desired quantity of currency and make a note of it. After comparing, simply exchange your currency for New Zealand Dollars with the company that’s going to give you the most New Zealand Dollars.

11 Best Currency Exchange in Auckland

  • Lotus Foreign Exchange – 228 Queen Street (Burger King)
  • Lotus Foreign Exchange –  166B Great South Road, Papatoetoe
  • No 1 Currency – 175 Queen Street
  • No 1 Currency – 238 Queen Street
  • City Forex – 44 Wellesley Street West
  • Relianz Forex – 32 Queen Street
  • Tasman Foreign Exchange – 3B/23 Dundonald Street, Eden Terrace
  • XE Money – Level 4, 32 Mahuhu Crescent
  • Travel Money NZ – 163 Queen Street (temp closed)
  • Travel Money NZ – Unit G3, 239 Queen Street (temp closed)
  • DP Money Exchange – 263 Queen Street (temp closed) .

Plan the rest of your time in Auckland using  The Complete Travel Guide to Auckland .

4 Best Currency Exchange in Christchurch

  • Lotus Foreign Exchange – 41/129 Riccarton Road, Riccarton
  • Lotus Foreign Exchange – Shop 50A/55 Main North Road, Papanui
  • Travelex Kiosk – 13/129 Riccarton Road, Riccarton
  • Travel Money NZ – 55 Main North Road, Northlands (temp closed) .

Plan the rest of your time in Christchurch using The Complete Travel Guide to Christchurch .

2 Best Currency Exchange in Queenstown

  • Travelex – Travel & Visitor Information Centre, Clocktower Building, Camp Street
  • Travel Money NZ – 7 Shotover Street (temp closed) .

Plan the rest of your time in Queenstown using  The Complete Travel Guide to Queenstown .

Withdrawing New Zealand Dollars from ATMs

More abundant across New Zealand than currency exchange bureaus, ATMs are another worthy way to get New Zealand Dollars in New Zealand with an overseas debit or credit card. However, you cannot exchange foreign currency at an ATM; only make a withdrawal.

Withdrawing New Zealand Dollars with a Debit Card

New Zealand ATMs and banks accept overseas debit cards, most commonly issued by Visa and MasterCard , but some also accept Maestro and Plus , as long as there is a four-digit PIN encoded. There is likely to be a withdrawal fee for withdrawing currency from an ATM from an overseas bank account, usually around NZ$5 flat fee, and some might charge an additional conversion surcharge of around 3%. (Not to mention, your bank to which the card is issued will charge you an exchange rate).

Withdrawing New Zealand Dollars with a Credit Card

The most widely accepted credit cards are those issued by Visa or MasterCard , while American Express , Diners Club and Bankcard are less accepted. Credit cards tend to not have a fee for withdrawing cash or paying from a foreign currency, but there is still a currency conversion fee, usually around 3% with MasterCard and Visa.

More Ways to Pay in New Zealand

For more information about paying with a debit and credit card, travel money card and more, see our comprehensive guide, The Best Way to Pay in New Zealand .

Transferring Money from Overseas to a New Zealand Bank Account

Finally, if you’re staying in New Zealand long-term and are opening a New Zealand bank account , it may be cheaper to transfer foreign currency to your New Zealand bank account.

A few options are available for transferring money to your New Zealand bank account. You can do it through your home bank in an online transfer (telegraphic transfer) or with an international bank draft. Alternatively, you can use a foreign exchange broker, like  XE Money  or  Wise , to transfer money to your New Zealand bank account, avoiding hefty bank fees.

Follow our tips in  How to Transfer Money to Your New Zealand Bank Account for all of the pros and cons of each transfer method.

More About New Zealand Currency Exchange

That’s it for our guide to the best places to exchange money in New Zealand. For more money talk, take a look at these:

  • The Travel Guide to New Zealand on a Budget
  • How Much Does it Cost to Travel New Zealand ?
  • How to Transfer (& Spend) Money Without a Bank Account

Plus, find more essential travel advice in the   31 Tips for Travelling in New Zealand .

This article was reviewed and published by Robin, the co-founder of NZ Pocket Guide. He has lived, worked and travelled across 16 different countries before calling New Zealand home. He has now spent over a decade in the New Zealand tourism industry, clocking in more than 600 activities across the country. He is passionate about sharing those experiences and advice on NZ Pocket Guide and its YouTube channel. Robin is also the co-founder of several other South Pacific travel guides.

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Delivery options, available branches and fees may vary by value and currency. Branch rates will differ from online rates.  T&Cs apply

  • Buy New Zealand dollars online at Post Office
  • Check the GBP to New Zealand dollar exchange rate for the best deal
  • Order your New Zealand dollars online and pick up in branch the next working day

A river in New Zealand in the early evening, surrounded by winding roads & mountainous terrain

Get travel money for your Kiwi adventure

From majestic mountains to vibrant cities, chilled culture to the high-octane outdoors, New Zealand offers plenty of it all. Let’s make sure you’ve got plenty of New Zealand dollars for your trip. 

You can  order travel money online ,  buy currency in thousands of participating branches  or put it on plastic with a  Travel Money Card . You can even get your  travel insurance  sorted at the same time. 

With click and collect , you can order holiday money online and pick it up from your local branch (the next working day if you order by 3pm). Or we can deliver currency to your home .

We’ll  buy back leftover New Zealand dollar  notes when you come home.

Get our best rates online. The more you buy the better the rate.

Get your New Zealand currency from us

Voted ‘Best Foreign Exchange/Travel Money Retailer’ at the British Travel Awards 2022

Get 0% commission and competitive rates on over 60 currencies, including the New Zealand dollar

Order travel money online or in thousands of participating branches

Get a better New Zealand dollar rate the more you spend

Order by 3pm* to collect in branch or get home delivery the next working day

Free home delivery on orders of £500 or more (£4.99 for orders under £500)

We’ll buy back leftover currency commission-free

*On a working day

Click and collect in branch

Get hold of your holiday money quickly. Pick it up from your nearest Post Office branch.

Home delivery

Want your cash delivered tomorrow? Order by 3pm today for delivery to your home.

Travel smart in New Zealand

Get a Travel Money Card for safe, secure and cash-free transactions across 22 currencies. And you can manage it all via our travel app on your phone.

How far will my money go in New Zealand?

With a currency that offers pretty good value to UK holidaymakers, New Zealand appeals broadly to everyone from backpackers to those looking for more comfort. 

Here’s what Post Office Travel Money research found typical items cost in the city of Auckland:

Three-course meal for two

£94.87

Cup of coffee

£2.66

£8.53

Costs are for Auckland, New Zealand and based on prices at the time of our last Holiday Money Report in 2023.  Meal costs are based on three courses for two people with a bottle of house wine.

Find out how to make your money go further on holiday

Some common questions

Why visit new zealand.

One of the most diverse countries in the world, New Zealand has everything from snow-capped mountains to golden sand beaches. It’s divided into two islands, simply known as North and South.

Take in all of the South Island on the TranzAlpine train, which goes through farmland, mountains and rainforests. On the North Island, the modern cities of Auckland and Wellington await. Museums, cafés and inner-city nature reserves are the main attractions.

What is the New Zealand dollar?

The New Zealand dollar (NZD) is the official currency of New Zealand and its territories the Cook Islands, Niue, the Pitcairn islands, Ross Dependency and Tokelau. Its currency symbol is $ or NZ$.

One NZ$ is subdivided into 100 cents.

What are the New Zealand dollar denominations?

Notes: 5, 10, 20, 50 and 100 dollars

Coins: 1 and 2 dollars, 10, 20 and 50 cents

Sir Edmund Hillary, the first man to reach the peak of Mount Everest, is on the 5-dollar bill.

Which countries use the New Zealand dollar currency?

New Zealand and its territories are the only official users of the New Zealand dollar. But the currency is also used unofficially in Fiji, New Caledonia, Samoa, Tonga and Vanuatu.

Where can you buy New Zealand dollars?

You can order your New Zealand dollars at the Post Office. Buy currency online or order travel money in thousands of branches. Use our branch finder to locate your nearest branch that sells currency .

Order online by 3pm to collect in any of our 11,500 branches the next working day with our click and collect service . We can also deliver currency to your home .

Ordering currency online could get you a better exchange rate than buying in branch. However you buy, it’s worth doing it when the exchange rate is good (with the pound strong against the dollar) if you can. And buying larger amounts at one time can reduce the rate further.

If you prefer to pay with plastic abroad, our  Travel Money Card  is a prepaid Mastercard® you can load with up to 22 currencies, including the New Zealand dollar.

What are the highest and lowest New Zealand dollar denominations?

The highest New Zealand banknote is the 100 dollar note. The lowest denomination in the currency is the 10 cent coin, which isn’t used very often either. It’s possible to encounter 1, 2 or 5 cent coins too, but these are no longer officially in use.

  • Read all travel money FAQs

Related products, services and information

Popular currencies.

Visiting other countries on the same trip or in the near future? These other currencies might be of interest.

Post Office Travel Money Card is an electronic money product issued by First Rate Exchange Services Ltd pursuant to license by Mastercard International. First Rate Exchange Services Ltd, a company registered in England and Wales with number 4287490 whose registered office is Great West House, Great West Road, Brentford, TW8 9DF, (Financial Services Register No. 900412). Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. 

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Buy New Zealand dollars online

Our currency calculator is a quick and easy way to check our latest foreign currency exchange rates.

What do I need to bring to collect my foreign currency?

Why buy New Zealand dollars from M&S Bank?

Visiting New Zealand? From rainforests, rolling hills and blissful beaches to the friendly locals and temperate climate, the Pacific Ocean islands are perfect if you want a getaway with a difference. Home to the iconic filming locations of the Lord of the Rings trilogy, you can even live a day in the life of a hobbit and explore Middle Earth while you're there.

The to-do list for the holiday of a lifetime can be lengthy, but don't worry we offer a number of benefits when you buy New Zealand dollars with M&S Bank.

  • Our stores are open 7 days a week †
  • Buy New Zealand dollars online and collect from your local Bureau de Change
  • Exchange any leftover currency when you return using our buy back service

Click and Collect New Zealand dollars

tourist rates new zealand dollar

NZD New Zealand dollars exchange rate

The exchange rate may differ depending on the day you order your currency.

Find today's New Zealand dollar exchange rate here. Or use our New Zealand dollar converter to see how much you could get for your pound.

How to sell back New Zealand dollars

Do you have left over New Zealand dollars from your recent trip? We can buy back foreign currency from you.

How to order New Zealand dollars

Our online and in-store services make ordering your New Zealand dollars simple:

  • Order your New Zealand dollars online with our Click & Collect currency service. Choose your collection date and collect from your local Bureau de Change. Or order before 4pm and collect in store the same day, using our SameDay Click & Collect service * .
  • Or visit your local Bureau de Change to buy New Zealand dollars * . You can find our Bureaux de Change in M&S stores nationwide. Many are open seven days a week late into the evening, so you can buy your New Zealand dollars at a time that suits you.

Countries that accept New Zealand dollars

The New Zealand dollar is the official currency of New Zealand, Cook Islands, Niue, Tokelau and Pitcairn Islands.

Why visit New Zealand?

It's a long way to go from the UK, but a visit to New Zealand should be on everyone's bucket list. Made up of two islands, North and South, you'll find jaw-dropping scenery, vast mountains, pristine beaches and buzzing cities like Wellington, Auckland and Christchurch to explore.

Home of the Maori culture, New Zealand is also the land of the haka - a traditional ceremonial war dance. It's now performed by the All Blacks rugby team before matches as a show of strength, pride and unity.

New Zealand is the unofficial home of adventure sports, with outdoor enthusiasts spoilt for choice. From snowboarding glacial peaks to kayaking the fjords, you'll have New Zealand's vast wildernesses almost to yourself - the country is about the same size as the UK, but with a population of only 4.5 million there's plenty of space for everyone.

You can check the latest exchange rate using our currency converter if you're planning to visit New Zealand any time soon.

tourist rates new zealand dollar

New Zealand dollars - facts and history

The New Zealand dollar has been the official currency of New Zealand since 1967. Before introducing the New Zealand dollar, the official currency of the country was the New Zealand pound.

The New Zealand dollar is made up of 100 cents, like other dollar currencies. You'll find banknotes in the following denominations:

$1 and $2 are coins, along with 10c 20c and 50c coins.

You can buy New Zealand dollars online, visit our travel money hub to learn more.

Frequently asked questions

Can i use my bank card in new zealand.

You'll find that cards are accepted almost everywhere, and there are ATMs easily accessible in most places. However, be aware that using your card abroad might mean you pay extra charges from your bank or card provider for international transactions. It's also a good idea to let your bank know that you'll be in New Zealand before you go. If you don't, your bank may think the transaction is fraudulent and block the payment. It's also worth having some cash on you if you're travelling to New Zealand, for smaller transactions like coffees or snacks.

Can you use other currencies in New Zealand?

You can only spend New Zealand dollars in New Zealand (in the same way you can only spend pounds and pence in the UK).

Do you need a visa to visit New Zealand?

British passport holders don't need a visa to visit New Zealand, you can visit for up to 6 months as a tourist. Before you travel, you will need to get a New Zealand Electronic Travel Authority (NZeTA) which you can do online through the New Zealand Immigration website.

You should always research the most up to date visa guidelines before planning a trip.

Should you tip in New Zealand?

Tips are not expected in New Zealand. If you want to tip your server in a restaurant, then 10% is standard, however it's by no means compulsory.

What languages are spoken in New Zealand?

English is the main language spoken in New Zealand, although it's with an accent entirely distinct from that of the UK, Canada, Australia or America. The official language of the country is Maori and New Zealand Sign Language, although speakers of both are in the minority now.

What is the latest government travel advice for New Zealand?

New Zealand is for the most part a safe destination to visit. However, it's always a good idea to check online with the Foreign, Commonwealth & Development Office (FCDO) before you travel in case there are any alerts you should be aware of.

When is the best time of year to visit New Zealand?

Because of its Southern Hemisphere location, the seasons are the reverse of what Brits are used to, with midsummer falling in December. The best time of year to visit New Zealand depends on whether you're after sunny hiking or water sports weather, or fancy more snowy winter pursuits like skiing or snowboarding.

Temperatures in the summer peak at around 25 degrees, with chillier months between June and September bringing snow to the South Island. If you want to avoid the crowds of high season, November and March have mostly mild temperatures but are slightly quieter.

Heading to New Zealand for the trip of a lifetime? Check the latest New Zealand exchange rate online with our currency converter.

Important documents

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tourist rates new zealand dollar

Other popular currencies

If you are planning a future holiday or a trip that takes in multiple destinations, these other currencies may be useful:

*Subject to availability

† Subject to store opening hours

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Find the best place to buy new zealand dollar

  • buy Currency

What Currency do you want to buy?

How much do you want to spend, what is the best new zealand dollar exchange rate today.

The best place to buy new zealand dollar today is Travel FX.

The worst exchange rate is 1.9398. The difference between the highest and the lowest exchange rate is 5.44%. This means that if you are buying £750 worth of new zealand dollar you will get $83.62 more new zealand dollar by buying with the best provider.

This shows you it pays to shop around and get the best new zealand dollar rates!

New zealand dollar exchange rate over the last week.

This shows you the pound sterling to new zealand dollar exchange rate recorded daily from our UK suppliers over the last week.

In the last 7 days, the exchange rate for new zealand dollar has risen by 2.01%.

If you were to order £1,000 today you would get $41.30 more new zealand dollar for your money than last week.

How to get the Best New Zealand Dollar Exchange Rate

We compare pound to new zealand dollar rates from many of the UK’s best companies including exclusively online providers as well as some of the well-known high street banks and supermarket travel money services. Our clever algorithms ensure you find the best place to buy new zealand dollar.

Compare Travel cash is a free compare travel money service that takes the pain and effort out of finding the best exchange rates for buying new zealand dollar online. Don't forget the price we quote is the price you pay, we calculate the amount including any fees and delivery costs!

new zealand dollar rate

Buying New Zealand Dollar online FAQs

Hundreds of customers safely buy new zealand dollar through online travel money providers sites every day and have a great experience. However, as with ordering anything online, the process is never completely risk-free and you should always take care when transferring money to any company. Compare Travel Cash undertake comprehensive checks on all of our online travel money providers and monitor them to make sure they meet our high standards and continue to do so. Having said that, no company is guaranteed not to come into trouble and we cannot guarantee the solvency of any of the providers listed on our website. We always recommend that you conduct your own research before placing an order with any company.

It's simple! Choose the travel money provider you would like to buy new zealand dollar from, then:

Not Usually! We constantly update our exchange rates as they change for each supplier, we try to do this in almost real-time, (in normal circumstances not more than 1-minute difference). Also, we sometimes have exclusive offers that you won't find by going direct.

Of course, most companies offer a buyback service for your unused currency! If you want to exchange your leftover new zealand dollar into pounds you can see the best buy back rate on new zealand dollar and many other currencies using our buy back comparison tool . Remember most buybacks are only possible for notes, not new zealand dollar coins.

The New Zealand dollar is only valid in New Zealand.

Each provider will have different rules on the maximum amount of currency you can buy.

Some providers will allow you to order large amounts, but we suggest you check the terms and conditions before you place an order if you are ordering a large amount.

Also, consider that currently you are only allowed to carry 10,000 dollars. If you take more than this you have a legal obligation to inform customs. Note, this amount is per person so if you are travelling with more cash than this you can distribute it to your fellow travellers. Therefore, it is important to check all of this before you convert your gbp to New Zealand dollar.

You will only be able to order notes, not coins.

If you require specific denominations consult with the provider first to ensure they offer this service when buying New Zealand dollar. Most will charge for this, but we find most providers supply a mixed selection of denominations. If a supplier does not specifically offer this service, contact them and ask them if they can provide the franc denominations you require, they may do this for free depending on their stock levels!

Currently there are 5, 10, 20, 50 and 100 New Zealand dollars banknotes.

Even though these sites don't supply coins, the coins you can get in New Zealand are 5, 10, 20 and 50 cent and 1 and 2 dollars.

The short answer is, that it is very difficult to time your order of dollar correctly to attain the best exchange rate. There are so many factors affecting the dollar exchange rate it is impossible to pin down a time when rates are best.

The prudent thing to do is to research to find the best Pounds to New Zealand dollar exchange rate using our comparison engine and obtain the best rate you can on the day you want to buy your currency. If you are short on time and need your currency on a specific date, we suggest buying with time to spare. All providers will use Royal Mail special delivery and in recent times we have seen delays in some cases, so leave as much time as you can to ensure you have your currency comfortably before your departure date.

Buying New Zealand dollar in New Zealand is almost always more expensive.

To avoid any surprises and to ensure you have a hassle-free trip we suggest buying dollar before you travel.

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CompareTravelCash.co.uk is a price comparison service that's designed to help you save money – whilst we do our best to ensure the site is 100% up-to-date, we cannot guarantee this. We advise you to carry out your own due diligence before buying or selling travel money.

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Best Travel Money Provider

Now in it’s 25th year and voted for by the public, the Personal Finance Awards celebrates the best businesses and products in the UK personal finance market. We’re delighted that you voted us Best Travel Money Provider 2022/23.

10% off our Travel Insurance when you buy Tesco Travel Money

As a little thank you, when you buy your travel money with us, we’ll give you a voucher code for 10% off our Travel Insurance. The code is for new policies only when you buy direct and must be redeemed by 31 January 2024.

Plus, Clubcard members can get this discount as well as their Clubcard discount. These are applied consecutively.

See additional T&Cs below

Tesco Bank Travel Insurance is arranged and administered by Rock Insurance Services Limited and underwritten by Inter Partner Assistance S.A. Travelex Agency Services Limited and Travelex Currency Services Limited are Introducer Appointed Representatives of Tesco Personal Finance plc for Travel Insurance.

Additional Information

Home delivery.

  • Travel Money Clubcard Prices online additional T&Cs
  • Card fees and cancellations
  • Currency buy back
  • Price Match
  • Key product information
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Ordering and Collection

You can pick a collection date when you're ordering your money. Order before 2pm and you can pick up Euros and US Dollars from most Tesco Travel Money bureaux the next day. Other currencies can take up to five days. Alternatively, you can order any currency for next weekday delivery to most of the selected customer service desks.

Please make sure you collect your money within four days of your chosen date. If you don't, your order will be returned and your purchase will be refunded, minus a £10 administration charge.

Will I be charged if I cancel my order?

What to bring

For security, travel money will need to be picked up by the person who placed the order.

  • a valid photo ID – either a passport, EU ID card, or full UK driving license (we do not accept provisional driving licenses)
  • your order reference number
  • the card you used to place the order (you’ll also need to know the card’s PIN)

We can send your travel money directly to you via secure Royal Mail Special Delivery. You can even pick the delivery date that suits you best.

We also offer next-day home delivery on all currencies to most parts of the UK if ordered before 2pm Monday-Thursday.

Check the Royal Mail site to find out if your postcode is eligible for next day delivery

Delivery costs

£4.99 for orders of £75 - 149.99 £3.95 for orders of £150 - 499.99 Free for orders of £500 or more

  • You’ll need to make sure there’s someone at home to sign for your delivery.
  • Bank holidays and public holidays will affect delivery times.
  • We are unable to cancel or amend home delivery orders after they have been placed.

Clubcard Prices

Clubcard Prices are available on the sell rate only for currencies in stock online, on your date of purchase. The Clubcard Price will be better than the standard rate advertised online on the date of purchase. When purchasing online you must enter a valid Clubcard number to obtain the Clubcard Price rate. Exchange rates may vary whether buying in store, online or by phone.

Clubcard Prices apply to foreign currency notes in stock on your date of online purchase. Due to constant market and currency fluctuations, rates on the date of purchase cannot be compared to another day’s rates. The actual rate you receive may vary depending on market fluctuations. Clubcard data is captured by Travelex on behalf of Tesco Bank.

Check out the Tesco Bank privacy policy to find out more.

Buying foreign currency using a credit or debit card

No matter how you purchase your travel money, whether it be in store, online or over the phone, you will not be charged any card handling fee by us. However, regardless of your card type, your card provider may apply fees, e.g. cash advance fees or other fees, so please check with them before you purchase your travel money.

Click & Collect cancellations

You can cancel a Click & Collect order any time prior to collection. We'll refund you with the full Sterling amount that you paid for your order, unless you cancel less than 24 hours before your collection date, in which case we'll charge a £10 late cancellation fee.

We are unable to refund any fees charged by your card issuer, so please contact them if you have any further queries.

When you get home, we'll buy your travel money back

Let us turn your unspent holiday money into Pounds. It couldn't be simpler.

Just pop into one of our in-store Travel Money Bureaux when you get home. We buy back all the currencies we sell in most banknote values and also the Multi-currency Cash Passport™. Buy back rates may vary during the day.

It doesn't matter where you bought your travel money, even if it wasn't from a Tesco Travel Money Bureau, we'll still buy it back.

More about currency buy back

How our Price Match works

If you find a better exchange rate advertised by another provider within three miles of your chosen Tesco Travel Money Bureau, on the same day, we'll match it.

Price Match only applies in store on a like-for-like basis on sell transactions and does not apply to any exchange rate advertised online or by phone. This is not available in conjunction with any other offer. We reserve the right to verify the rate you have found and the three mile distance (using an appropriate route planning tool).

See full terms and conditions below.

Tesco Travel Money is provided by Travelex

Tesco Travel Money ordered in store is provided by Travelex Agency Services Limited. Registered No. 04621879. Tesco Travel Money ordered online or by telephone is provided by Travelex Currency Services Limited. Registered No. 03797356. Registered Office for both companies: Worldwide House, Thorpewood, Peterborough, PE3 6SB.

Multi-currency Cash Passport is issued by PrePay Technologies Limited pursuant to license by Mastercard® International. PrePay Technologies Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900010) for the issuing of electronic money and payment instruments. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

The voucher code should be entered or quoted when you buy your travel insurance – there is no cash alternative. The code is not valid if you buy through any cashback or price comparison website and only one voucher code can be used per quote. The discount cannot be applied to existing policies or renewals. Not available with Tesco colleague discount and doesn’t apply to Later Life policies or product add-ons. The voucher code can’t be used in conjunction with any other voucher codes or promotional offers.

How much travel money will I need?

Whether it’s a burger in Brisbane or a taxi in Toronto, get a feel for how far your travel money might go with our foreign currency guides. We’ll help you manage your travel budget like a pro.

Reuters

Dollar headed for second weekly gain on tempered rates outlook

By Tom Westbrook

SINGAPORE (Reuters) - The dollar headed for a second weekly gain in a row on Friday on signs of resilience in the U.S. economy and caution about rate cuts from central bankers.

Weekly gains on the risk-sensitive Australian and New Zealand dollars of 1.7% and 2.1% are set to be the largest since November and June respectively. Markets price a 57% chance of a U.S. rate cut in March, down from 75% a week ago.

The dollar index is up 0.9% to 103.4 on the week and at 148.12 yen the dollar is up almost 5% on the Japanese currency this year as confidence that the Bank of Japan (BOJ) is about to hike rates has also been rattled.

Data on Friday showed Japan's core inflation slowed to 2.3% in the year to December, its lowest annual pace since June 2022 - seemingly vindicating policymakers' wait-and-see approach.

"The market's realisation that rates hikes will not be easy for the BOJ in the coming months and the coincident repricing of Fed rate cut risks have already been reflected in the move higher in dollar/yen," said Rabobank strategist Jane Foley.

Rabobank revised its one-month forecast for dollar/yen to 148 from 144, expecting further unwinding of bets on the pace of U.S. rate cuts to support the dollar.

Currency moves early in the Asia session were modest on Friday, leaving the euro down 0.7% for the week at $1.0878 and sterling down 0.3% to $1.2708.

The Aussie caught a little support from stabilising iron ore prices and rose 0.1% to $0.6578. The kiwi was steady at $0.6118. [AUD/]

Overnight U.S. labour-market data was strong, with weekly jobless claims dropping to their lowest level in nearly 1-1/2 years, adding to the pressure on market rate-cut wagers.

Two-year Treasury yields, which track short-term interest rate expectations, are up 22 basis points this week to 4.3587%. [US/]

Earlier data showed retail sales rose more than expected in December. Federal Reserve Governor Christopher Waller said on Tuesday the U.S. economy's strength gives policymakers flexibility to move "carefully and slowly" which traders took as pushing back at pricing for a speedy fall in rates.

A similarly hawkish chorus from European central bankers has also dialled back expectations for cuts in Europe, limiting the euro's fall on the dollar and driving gains for crosses such as euro/yen and euro/swissy.

An unexpected rise in British inflation also drove a sharp pullback in bets on Bank of England interest rate cuts, and leant support to sterling.

Bitcoin hit a five-week low at $40,484 overnight as traders have taken profits following the U.S. approval of spot bitcoin exchange-traded funds. Speculators drove the price 150% higher during 2023 in anticipation that the approval paved the way for large-scale investors to buy the cryptocurrency.

(Reporting by Tom Westbrook.)

FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won/File Photo

Travelex Currency Converter

Currency converter, convert the latest exchange rates, money converter for international currency conversion, travelex rate tracker.

Looking for the best Travelex exchange rates for you on your foreign currency? With our Travel Rate Tracker we'll send you an alert when your chosen currency has reached your desired rate. Simple!

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Yen falls after BOJ decision; U.S. dollar hits six-week high

The Japanese yen fell against the U.S. dollar on Tuesday in volatile trading after the Bank of Japan maintained its ultra-easy policy and signaled an April exit from negative interest rates.

The dollar index rose to a six-week high of 103.76, and was last at 103.58, up 0.24%.

The BOJ kept short- and long-term rate targets unchanged, signaling the bank plans to normalize policy soon.

"The details of the BoJ communication shows they're getting more comfortable with the idea that inflation is on track towards their target," said Vassili Serebriakov, FX strategist, at UBS in New York.

"It did reinforce expectations of policy normalization in April. But it's less clear if it would be a significant event for the yen because it's widely expected," he added.

The yen first weakened after the BOJ decision, with the dollar hitting 148.60 yen. It briefly firmed but by late morning was weaker again with the dollar up 0.2% at 148.36 yen.

The yen is sensitive to the difference in rates between Japan and other markets, and has shed nearly 5% against the dollar this year as markets reduced bets on imminent U.S rate cuts.

BOJ Governor Kazuo Ueda gave no hints on whether the bank would pull short-term Japanese rates out of negative territory at meetings in March or April, as many economists expect. He did say it looked more likely Japan could achieve the bank's 2% inflation target sustainably.

Elsewhere, the U.S. dollar continued to benefit from declining expectations of a rate cut at the Federal Reserve's March meeting.

The U.S. rate futures market was pricing in a roughly 40% chance of a March rate cut, down from as much 80% about two weeks ago, according to LSEG's rate probability app. For 2024, futures traders are betting on five rate cuts of 25 bps each. Two weeks ago they expected six.

"In the context where U.S. data has been resilient and FX volatility has fallen and we'll likely see renewed interest in yen-funded carry trades," Serebriakov said. "That supports buying dollar/yen on the dip."

In carry trades, investors borrow in low-yielding currencies such as the yen or Swiss franc to purchase higher-yielding ones such as the U.S., Australian or New Zealand dollars.

The euro fell to a six-week low of $1.0822, and last traded down 0.3% at $1.08347.

European investors digested a survey of euro zone banks for evidence of the extent to which monetary policy tightening has been passed onto the economy.

The poll showed lenders kept tightening access to credit in the last quarter of 2023 but fewer banks did so than at any point in the previous two years.

Also this week, the European Central Bank meets on Thursday. No change in interest rates is expected but investors will watch what it says about its outlook. Market pricing currently shows a reasonable chance of a rate cut by April.

In other currencies, the pound fell 0.2% against the dollar to $1.2685.

The main British economic news was a smaller-than-expected budget deficit for December, which could open up room for tax cuts in a budget scheduled for March.

A report that China is weighing a rescue package for its plunging stock markets helped the yuan and the Australian dollar, which is often viewed as a more liquid proxy for exposure to China.

Chinese authorities are considering measures to stabilize the stock market, Bloomberg News reported, citing people familiar with the matter.

The dollar dipped 0.3% against the offshore yuan to 7.174, while the Aussie was flat at US$0.6569.

"The (China) news has triggered risk proxies, including the Australian dollar, New Zealand dollar ... higher," said Christopher Wong, a currency strategist at OCBC.

"It remains to be seen if this is just talk but if it does materialize sooner than later, then risk proxies can trade higher."

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Inflation slows in New Zealand to its lowest rate since 2021

WELLINGTON, New Zealand — (AP) — Inflation in New Zealand has slowed to its lowest rate in two and a half years, the country's official statistics agency announced on Wednesday.

Stats NZ revealed the latest consumers price index (CPI) data had slowed to 4.7% across 2023, a significant drop from the 5.6% result in the year to September 2023.

The agency said falling food and transport prices were the main drivers of the slowdown in the inflation rate which had peaked at 7.3 per cent in 2022.

While the CPI is still above the the Reserve Bank of New Zealand’s target band of 1-3%, the better than expected slowdown all but ends any speculation of a further hike of the official cash rate — which currently sits at 5.5% — when the Reserve Bank next meets in on Feb. 28.

The fall to 4.7% was in line with market expectations, but lower than the Reserve Bank's prediction of 5%.

New Zealand Finance Minister Nicola Willis said a key goal of the government was to lower inflation.

“Our immediate focus is getting inflation back into the target range under three per cent,” she said.

The result means annual inflation rate is now at its lowest since June 2021, while quarterly inflation was tracked at 0.5 per cent, the smallest rise since December 2020.

Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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