Current Exchange Rate Australian Dollar To New Zealand Dollar
The exchange rate between the Australian dollar (AUD) and the New Zealand dollar (NZD) is a highly watched and volatile currency pair. Both AUD and NZD are commodity currencies, which means their exchange rate is highly dependent on the prices of commodities such as gold, iron ore, and dairy products.
What is the current exchange rate?
As of September 2021, the current exchange rate between AUD and NZD is approximately 1 AUD to 1.07 NZD. This means that for every Australian dollar, you can get 1.07 New Zealand dollars.
Factors affecting the exchange rate
The exchange rate between AUD and NZD is affected by various factors such as:
- Commodity prices: As mentioned earlier, both economies heavily rely on commodity exports. Any changes in commodity prices can have a significant impact on the exchange rate.
- Interest rates: The interest rates set by the central banks of both countries can also affect the exchange rate. A higher interest rate attracts more foreign investment, which can increase the value of the currency.
- Economic performance: A country's economic performance can also influence the exchange rate. A stronger economy can attract more foreign investment and increase the demand for the currency.
- Political stability: Any political instability or uncertainty can negatively impact the exchange rate as it creates uncertainty for investors.
Historical exchange rate
The exchange rate between AUD and NZD has been quite volatile over the years. In 2011, the exchange rate was around 1 AUD to 1.30 NZD. However, it dropped to around 1 AUD to 1.05 NZD in 2015, before rising to its current level of 1 AUD to 1.07 NZD.
How to convert AUD to NZD?
Converting AUD to NZD can be done through various methods such as:
- Banks: Most banks offer foreign currency exchange services. You can either visit a bank branch or do it online.
- Foreign exchange providers: You can also use foreign exchange providers such as OFX, TorFX, or TransferWise to transfer money between AUD and NZD.
- ATMs: If you are travelling to New Zealand, you can use ATMs to withdraw NZD using your Australian debit card. However, this method may incur additional fees.
Conclusion
The exchange rate between AUD and NZD is a highly watched and volatile currency pair. It is affected by various factors such as commodity prices, interest rates, economic performance, and political stability. As of September 2021, the current exchange rate is approximately 1 AUD to 1.07 NZD. Converting AUD to NZD can be done through banks, foreign exchange providers, or ATMs.