AUD/NZD: what to know
The AUD/NZD rate shows how much NZD you get for 1 AUD. Right now, 1 AUD buys 1.2344 NZD at the mid-market rate. In the other direction, 1 NZD is worth 0.8101 AUD.
In the short term AUD is driven mainly by commodity prices and Chinese demand, while NZD responds to soft-commodity prices and risk appetite.
The Australian Dollar (AUD) is issued by Reserve Bank of Australia. Australia pioneered polymer banknotes in 1988 — more durable and harder to counterfeit. The New Zealand Dollar (NZD) is issued by Reserve Bank of New Zealand. The New Zealand dollar is nicknamed the “Kiwi”, after the bird on the $1 coin.
Over the past 12 months the AUD/NZD rate has ranged between 1.1160 and 1.2358 — a change of +10.36% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.