[Skip to Navigation]

Supporting information:

Basic information: Exchange rates (table B1)

The Data: Coverage, Periodicity, and Timeliness
Coverage characteristics	The following series are included in the exchange rate tables: Exchange and cross rates - rates are quoted against one New Zealand dollar. All data are indicative market mid-rates collected at 11.10am, published by Reuters (a) NZD/USD exchange rate (b) NZD/GBP cross rate (c) NZD/AUD cross rate (d) NZD/JPY cross rate (e) NZD/Euro cross rate (f) NZD/CAD cross rate (g) NZD/CNY cross rate (h) NZD/HKD cross rate (i) NZD/IDR cross rate (j) NZD/KRW cross rate (k) NZD/MYR cross rate (l) NZD/SGD cross rate (m) NZD/THB cross rate (n) NZD/TWD cross rate (o) NZD/DEM cross rate (discontinued Dec 1998) Trade Weighted Index Official TWI Calculated using the five currencies that make up the official TWI basket (1-5 above). Up until December 1998 weights were calculated solely on bilateral trade. From January 1999 weights are calculated using bilateral trade (50 percent) and the relative size of the trading partner’s economy (GDP) (50 percent). Analytical TWI 5 Calculated using the five currencies that make up the official TWI basket (1-5 above), backcast to 1990 using the current weighting methodology (weights are calculated using bilateral trade (50 percent) and the relative size of the trading partner’s economy (GDP) (50 percent). Analytical TWI 14 Calculated using 14 currencies (1-14 above). Weights used are calculated using bilateral trade (50 percent) and the relative size of the trading partner’s economy (GDP) (50 percent), back to 1990. Analytical Real TWI 5 The analytical TWI 5 (above) deflated using relative price levels (CPIs) of the individual countries that make up the TWI 5 basket. Analytical Real TWI 14 The analytical TWI 14 (above) deflated using relative price levels (CPIs) of the individual countries that make up the TWI 14 basket. WM/Reuters New Zealand Fix 14:00 This NZD/USD exchange rate is published at 2pm NZ time by Reuters, using an internationally accepted methodology.
Periodicity	Daily and monthly
Timeliness	Series are released on a same day basis at 3pm. Note Real TWI estimates are updated quarterly once relevant data is available.
Access by the public
Advance release calendar	The “Advance Release Calendar” is updated and released each Friday on the website. This is a long-term plan of scheduled releases.
Integrity
Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses	Although there is no legal requirement for the RBNZ to publish data on exchange rates, the data are disseminated by the RBNZ as a service to the public. The RBNZ collects, monitors and analyses the data in undertaking its market operations functions. These operations involve liasing with and monitoring financial markets, in order to ensure effective implementation of monetary policy and the maintenance of the RBNZ’s capacity to intervene in financial markets if required.
Provision of information about revisions and advance notice of major changes in methodology	New data added to the series is normally in bold font. Normally there are no revisions to these data as they are collected directly from the market. However if revisions occur, they will also be in bold font.
Quality
History of methodological changes	The TWI and all exchange rates use representative 11.10am market mid-rates from 1 April 1991. Prior to this representative 3.00pm exchange rates were used. Pre January 1999 Weights were based solely on bilateral trade Weights were updated quarterly Post January 1999 Weights include both bilateral trade (50 percent) and the size of the trading partner’s economy (GDP) (50 percent) Weights are updated annually in December Euro replaces DEM The precise methodology and the reasons for the change are set out in the December 1998 Bulletin, news release on 21 December 1998 and the September - December 1998 Bulletin notes. The series to the end of 1998 and the TWI on the new basis were spliced seamlessly. The TWI series contains no level break at the end of 1998. For further information on the analytical exchange rate series see the June 2007 Bulletin News Release or access the B1 Exchange rate tables The WM/Reuters New Zealand Fix 14:00 exchange rate uses the representative 2pm NZ time market mid-rate. The series began on 1 July 2008.