EUR/NZD – Live and Historical Rates
In this pair, the EUR is a major currency. The NZD, also known as the “kiwi dollar” or as the “kiwi”, is not. The pair itself isn’t a major, nor is it a commodity pair. The forex chart above shows how many NZD one needs to buy one Euro.
As the common currency of the Eurozone – the world’s largest economy – by economic value transfer, the EUR is indeed the most circulated currency in the world. It serves as the official currency of no fewer than 21 European countries and an impressive number of other territories and states that have either adopted it de-facto, or have pegged their currencies to it. Introduced in 1999, the EUR is without a doubt the biggest trading/currency block in history. Despite its success though, it has some glaring flaws, cruelly exposed by the 2008 financial crisis. While many of these flaws stem from the economic disparities within the Eurozone, some of them are structural in nature.
The Kiwi or Kiwi Dollar was introduced to the world markets in 1967. Until 1985, its value was solely dependent on the USD. From there on out though, the NZD became a floating currency, freely sailing the troubled waters of the global markets, without significant interventions on the part of authorities to prop it up or to devalue it. Besides New Zealand itself, four other countries use the NZD: the Cook Islands, the Pitcairn Islands, Niue and Tokelau. The nickname of the NZD has been derived from the kiwi bird featured on its coins.
Those looking for large value differentials will appreciate the NZD’s exposure to Asian markets. Indeed, New Zealand’s biggest trading partners are Australia and various Asian countries like Japan and China. Carry trading was sometimes profitable on this pair, but the best occasional opportunities are likely to be presented by agricultural price-fluctuations, to which New Zealand’s economy is most exposed.