CAD/NZD: what to know
The CAD/NZD rate shows how much NZD you get for 1 CAD. Right now, 1 CAD buys 1.2408 NZD at the mid-market rate. In the other direction, 1 NZD is worth 0.8059 CAD.
In the short term CAD is driven mainly by oil prices and the US economy, while NZD responds to soft-commodity prices and risk appetite.
The Canadian Dollar (CAD) is issued by Bank of Canada. The C$1 coin is the “loonie” (after the loon bird) and the C$2 is the “toonie”. 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 CAD/NZD rate has ranged between 1.2095 and 1.2683 — a change of +2.64% 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.