New Zealand Dollar Exchange Rate In Indian Rupees Today
The New Zealand Dollar is the official currency of New Zealand. It is abbreviated as NZD and is also known as the Kiwi. As of today, the exchange rate of the New Zealand Dollar in Indian Rupees is ₹ 47.69.
Factors Affecting the Exchange Rate
The exchange rate of a currency is determined by various factors. Some of the factors that affect the exchange rate of the New Zealand Dollar in Indian Rupees are:
- Interest rates
- Inflation
- Political stability
- Economic performance
- Trade balance
When the interest rates in New Zealand are higher than in India, the demand for the New Zealand Dollar increases, leading to an appreciation in its value. Similarly, when the inflation rate in New Zealand is higher than in India, the demand for the New Zealand Dollar decreases, leading to a depreciation in its value.
Political stability and economic performance also play a significant role in determining the exchange rate of the New Zealand Dollar. If there is political instability or poor economic performance in New Zealand, it can lead to a decrease in the demand for the New Zealand Dollar and a depreciation in its value.
Historical Exchange Rate
The exchange rate of the New Zealand Dollar in Indian Rupees has varied over the years. In 2015, the exchange rate was around ₹ 45. In 2016, it reached a high of ₹ 50. In 2017, it dropped to around ₹ 44, and in 2018, it was around ₹ 48.
In 2019, the exchange rate of the New Zealand Dollar in Indian Rupees started at around ₹ 47 and remained stable throughout the year. In 2020, it dropped to around ₹ 44 due to the COVID-19 pandemic and the resulting economic slowdown.
Current Trends
The exchange rate of the New Zealand Dollar in Indian Rupees has been fluctuating in recent times. In January 2021, it was around ₹ 55. However, it has since dropped to around ₹ 47 due to various factors such as the COVID-19 pandemic and changing economic conditions in both countries.
Investors and traders keep a close eye on the exchange rate of the New Zealand Dollar in Indian Rupees as it can have an impact on their investments and trade activities.
Conclusion
The exchange rate of the New Zealand Dollar in Indian Rupees is subject to various factors such as interest rates, inflation, political stability, economic performance, and trade balance. It has varied over the years and has been fluctuating in recent times. Investors and traders should keep track of the exchange rate as it can have an impact on their investments and trade activities.