AUD NZD Forex Live Chart
Live chart of Australian Dollar(AUD) versus New Zealand Dollar (NZD)
AUD NZD – Australian Dollar vs New Zealand Dollar
The Australian dollar is the major currency, whereas, the New Zealand dollar is not a major currency in front of it. Together these both currencies do not form any commodity or major pair.
The Australian Dollar
In 1966 the Australia has decimalized the first currency, and they have replaced the Australian pound with the Aussie Dollar. Since 1983, the Aussie Dollar is holding the value of a floating currency, and the value of the Australian dollar is consistently running under the value of the United States dollar. The international code of this currency is AUD. This currency is among favorites of the currency traders due to the minimal government interference and high interest rates of the Australian dollar. The Australia has always remained as the one of the most developed nations. The functions of this country have surprisingly quite independent as compared to the other industrialized nations. This is the reason that Australian dollar has got the unique diversification with its neighboring countries of Asia. The prime trade partners of the Australia are Japan, China, India, and South Korea.
The New Zealand dollar
The New Zealand dollar is the official currency of the New Zealand. The other names of the New Zealand dollar are “kiwi dollar” and “kiwi”. In 1967, the New Zealand dollar was first introduced in the international market. The value of the New Zealand dollar was pegged to American dollar at that time. The New Zealand dollar has gained the status of the floating currency since 1985. The kiwi dollar is ranked as the twelfth most trading currency around the world. This is a small currency and it has heavy dependence on the international trade, as well. This has made the value of the New Zealand dollar heavily influenced with the fluctuations in the international interest rates. There are always subsequent drops or significant spikes are expected in the value of the kiwi dollar. The major examples of such fluctuations were, in 2000. The code of the New Zealand dollar is NZD. The New Zealand dollar is used in four other countries as well as their official currency.
AUD NZD relationship
The geographic relationship between the New Zealand and Australia is obvious. They both are the trading partners from a long time. The industries of both of the countries are largely distinct, but the New Zealand dollar scope is more internationally than the Australian dollar. The food market and agriculture has the primary influence on the New Zealand economy. The Australian market is influenced by the commodity markets. The AUD and NZD both currencies are influenced by the Japanese Yen, but the impact of the American dollar is more on the NZD. The carry trades with the AUD NZD usually prove profitable when the interest rates are tended.