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Exchange rates and Trade Weighted Index (B1)

This data monitors the currency exchange rate of the New Zealand dollar (NZD) compared to various major international currencies. The Trade Weighted Index (TWI) measures the value of the NZD against the currencies of New Zealand's major trading partners.

16 Sep 2022 19 Sep 2022 20 Sep 2022 21 Sep 2022 22 Sep 2022 23 Sep 2022 27 Sep 2022 28 Sep 2022 29 Sep 2022 30 Sep 2022
TWI
17 currency basket 69.73 69.90 69.46 69.16 68.87 68.96 67.95 67.41 68.39 68.42
Selected exchange rates
United States dollar 0.59595 0.59800 0.59400 0.58950 0.58245 0.58455 0.56875 0.56230 0.57025 0.57330
UK pound sterling 0.51985 0.52385 0.52020 0.51835 0.51850 0.51940 0.52790 0.52570 0.52755 0.51335
Australian dollar 0.88915 0.89020 0.88425 0.88195 0.88335 0.88040 0.87600 0.87375 0.87890 0.88060
Japanese yen 85.36685 85.59470 85.07265 84.69645 84.14360 83.06160 82.16445 81.37325 82.26710 82.94505
European euro 0.59595 0.59750 0.59255 0.59150 0.59325 0.59425 0.59025 0.58730 0.58845 0.58340
Chinese renminbi 4.18275 4.18765 4.16580 4.14945 4.13105 4.14455 4.06375 4.02550 4.13230 4.12740

Changing reporting decimal places

2 May 2022

The publication of exchange rates will change to 5 decimal places. This will align with the spot FX midrates source data (WM/REFINITIV) published by Refinitiv.

Read the guidelines.

If you have any questions please contact [email protected].


View all Exchange rates and Interest rates Special notes.

The data: coverage, periodicity and timeliness

Coverage characteristics

Exchange and cross rates are quoted against one New Zealand dollar.

  • NZD/USD exchange rate
  • NZD/GBP cross rate
  • NZD/AUD cross rate
  • NZD/JPY cross rate
  • NZD/EUR cross rate
  • NZD/CAD cross rate
  • NZD/CNY cross rate
  • NZD/HKD cross rate
  • NZD/IDR cross rate
  • NZD/KRW cross rate
  • NZD/MYR cross rate
  • NZD/SGD cross rate
  • NZD/THB cross rate
  • NZD/TWD cross rate
  • NZD/INR cross rate
  • NZD/PHP cross rate
  • NZD/VND cross rate
  • NZD/DEM cross rate (discontinued December 1998).

The TWI is a weighted average of the New Zealand dollar with the currencies of New Zealand's major trading partners. We publish the following TWIs:

  • Official TWI (nominal and real)
  • Historical TWI
  • Analytical TWI 5 (discontinued 30 April 2015)
  • Analytical TWI 14 (discontinued 30 April 2015).

Periodicity

Daily and monthly.

Timeliness

We release data on a same-day basis at 3:00pm. We update real TWI estimates monthly once relevant data is available.

Access by the public

Statistics release calendar

The statistics release calendar provides a long-term plan of scheduled releases. We update and release the calendar on the first working day of the month.

View the statistics release calendar

Integrity

Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

Although there is no legal requirement for us to publish data on exchange rates, we disseminate the data as a service to the public.

Provision of information about revisions and advance notice of major changes in methodology

The latest data added to the table are in bold font. Normally there are no revisions to these data as we collect them directly from the market. However, if revisions are necessary, they will also be in bold font. This applies to the summary table only and not Excel files. Any major changes will be accompanied by a note.

Quality

Changes to exchange rate data

  • Before 1 April 1991, exchange rates are indicative 3:00pm rates from Refinitiv.
  • Between 1 April 1991 and 30 April 2015, exchange rates are indicative 11:10am mid-rates sourced from Refinitiv.
  • From 1 May 2015, exchange rates are the WM/Refinitiv 2:00pm fixes from NZFMA.

Change to the trade weighted index (TWI)

  • Before 1 January 1999, we calculated the TWI using a 5-currency basket: USD, GBP, AUD, JPY and DEM. Weights were based solely on bilateral trade and updated quarterly.
  • Between 1 January 1999 and 16 December 2014, we calculated the TWI using a 5-currency basket: USD, GBP, AUD, JPY and EUR. Weights were based on both bilateral trade (50%) and the size of the trading partner's economy (GDP) (50%). We update weights annually in December.
  • From 17 December 2014, we calculate the TWI using a 17-currency basket: USD, GBP, AUD, JPY, EUR, CAD, CNY, HKD, IDR, KRW, MYR, SGD, THB, TWD, INR, PHP and VND. Weights are based on bilateral trade and include services data from 2009. We update weights annually in December.

Exchange rate

The exchange rate is the rate at which one currency is exchanged for another currency.

Cross rate

This is the exchange rate relationship between two currencies based on each other’s relationship with a third, typically the US dollar.

Mid-rates

Financial institutions trading financial instruments will normally quote both bid and offer rates for those financial instruments. The mid-rate is the rate in the middle of this range.

The euro and the NZD/EUR

The euro (currency code EUR) replaced the national currencies of certain members of the European Union on 1 January 1999. Until 31 December 1998, we collected the NZD/DEM (Deutsche mark). From 5 January 1999 (the first banking day in 1999), we started to collect the NZD/EUR. Note that the euro replaced the Deutsche mark as a TWI contributor on 5 January 1999. The official fixing rate (OFR) for converting the Deutsche mark to the euro is 1.95583.

WM/Refinitiv New Zealand Dollar Fixes 14:00

The 14:00 reference rate for the New Zealand dollar is the result of cooperation between the New Zealand Financial Markets Association (NZFMA), World Markets (WM) Company and Refinitiv. The reference rates are referred to as the ‘WM/Refinitiv New Zealand Dollar Fixes 14:00’, and are calculated using an internationally accepted methodology.

Download the WM/Refinitiv Press Release (PDF 67 KB)

Download the WM/Refinitiv Methodology (PDF 65 KB)

Trade weighted index

Trade weighted index

The trade weighted index (TWI) is a measure of the value of the New Zealand dollar (NZD) relative to the currencies of New Zealand's major trading partners. The TWI is our preferred summary measure for capturing the medium-term effect of exchange rate changes on New Zealand’s economy and inflation. The TWI ‘basket’ of currencies includes 17 of New Zealand's most significant trading partners.

  • United States dollar
  • UK pound sterling
  • Australian dollar
  • Japanese yen
  • European euro
  • Canadian dollar
  • South Korean won
  • Chinese renminbi
  • Malaysian ringgit
  • Hong Kong dollar
  • Indonesian rupiah
  • Thai baht
  • Singapore dollar
  • New Taiwan dollar
  • Indian rupee
  • Philippine peso
  • Vietnamese dong

The TWI is weighted using bilateral trade in merchandise and services. We have backdated the TWI to January 1984 using a consistent methodology.

Nominal TWI

We calculate the nominal TWI on a daily basis and rebase it to equal the value of the TWI on 31 October 2014 using the old methodology.

Real TWI

We calculate the real TWI on a monthly basis and rebase it to the monthly average of the TWI in October 2014 (old basis). The official real TWI started in 1984. An analytical real TWI starting in 1970 is available in the exchange rate key graph. In 2016, we incorporated several changes to the real TWI.

View the Exchange rate key statistics

Download the Changes to the real TWI (PDF 384 KB)

Historical TWI

The historical TWI is ‘as published’ on the day using the method that existed at the time. The method used to construct the official TWI has changed several times:

  • Before 1 January 1999, we calculated the TWI using a 5-currency basket: USD, GBP, AUD, JPY and DEM. We based the weights solely on bilateral trade and updated quarterly.
  • Between 1 January 1999 and 16 December 2014, we calculated the TWI using a 5-currency basket: USD, GBP, AUD, JPY and EUR. We based weights on both bilateral trade (50%) and the size of the trading partner's economy (GDP) (50%). We update weights annually in December.
  • From 17 December 2014, we calculate the TWI using a 17-currency basket: USD, GBP, AUD, JPY, EUR, CAD, CNY, HKD, IDR, KRW, MYR, SGD, THB, TWD, INR, PHP and VND. We base weights on bilateral trade and include services data from 2009. We update weights annually in December.

The historical TWI starts from July 1986.

Symbols and conventions for summary table

Symbol or convention Definition
0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
Light grey background Historical

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.