AUD/NZD – Live and Historical Rates
While the Australian Dollar is one of the major currencies, the New Zealand Dollar (also known as Kiwi Dollar) is not. The pair reflects the close economic ties between the two countries. The above chart illustrates how many NZD it takes to purchase one AUD.
The Australian Dollar is an excellent diversification instrument for forex traders, on account of its exposure to Asian Markets. Australia’s largest trading partners are Japan, South Korea, India and China. The AUD replaced the Australian Pound in 1966, becoming the floating currency of the Commonwealth of Australia in 1983, after being taken off the British Pound peg. Besides Australia proper, the AUD also serves as currency for Christmas Island, Cocos Islands, as well as the island states of Nauru, Tuvalu and Kiribati.
Due to minimal government interference and attractive interest rates, the AUD is one of the darlings of forex traders. In 2011, it accounted for 7.6% of the global daily forex turn over, and it has become the 5th most traded currency behind the USD, EUR, JPY and GBP.
The New Zealand dollar is a small currency, used besides New Zealand proper in Tokelau, Niue, the Cook Islands, the Pitcairn Islands and the Ross Dependency. Introduced in 1967, replacing the New Zealand Pound, the Kiwi Dollar was originally pegged to the USD. It became a floating currency in 1985. It is currently one of the 10 most traded currencies in the world, accounting for some 2% of the daily global forex turn over. Being a small currency, the value of the NZD is heavily influenced by the international interest rates.
While the AUD is most exposed to the commodity markets, the NZD is mostly influenced by the food market and agriculture. USD fluctuation has a more obvious impact on the NZD than the AUD.
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