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Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Australian Dollar
| Currency: | Australian Dollar |
| Currency Symbol: | $, A$ |
| Sub unit: | cent |
| Sub unit symbol: | c |
| Bank notes: | $5, $10, $20, $50, $100 |
| Coins: | 5c, 10c, 20c, 50c, $1, $2 |
New Zealand Dollar
| Currency: | New Zealand Dollar |
| Currency Symbol: | $ |
| Sub unit: | cent |
| Sub unit symbol: | c |
| Bank notes: | $5, $10, $20, $50, $100 |
| Coins: | 10c, 20c, 50c, $1, $2 |
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.
| USD | AUD | CAD | EUR | CNY | GBP | INR | MXN | PHP | |
|---|---|---|---|---|---|---|---|---|---|
| 1 USD = | 1.0000 | 1.4447 Inverse: 0.6922 | 1.3166 Inverse: 0.7596 | 0.8949 Inverse: 1.1175 | 6.9852 Inverse: 0.1432 | 0.7461 Inverse: 1.3403 | 70.7149 Inverse: 0.0141 | 19.0583 Inverse: 0.0525 | 50.6074 Inverse: 0.0198 |
| 1 AUD = | 0.6922 Inverse: 1.4447 | 1.0000 | 0.9113 Inverse: 1.0974 | 0.6194 Inverse: 1.6145 | 4.8349 Inverse: 0.2068 | 0.5164 Inverse: 1.9364 | 48.9463 Inverse: 0.0204 | 13.1915 Inverse: 0.0758 | 35.0286 Inverse: 0.0285 |
| 1 EUR = | 1.1175 Inverse: 0.8949 | 1.6145 Inverse: 0.6194 | 1.4713 Inverse: 0.6797 | 1.0000 | 7.8059 Inverse: 0.1281 | 0.8338 Inverse: 1.1994 | 79.0237 Inverse: 0.0127 | 21.2976 Inverse: 0.0470 | 56.5537 Inverse: 0.0177 |
| 1 GBP = | 1.3403 Inverse: 0.7461 | 1.9364 Inverse: 0.5164 | 1.7646 Inverse: 0.5667 | 1.1994 Inverse: 0.8338 | 9.3624 Inverse: 0.1068 | 1.0000 | 94.7801 Inverse: 0.0106 | 25.5441 Inverse: 0.0391 | 67.8298 Inverse: 0.0147 |
| Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 AUD = | 1.2586 Inverse: 0.7945 | 1.3157 Inverse: 0.7601 | 1.3199 Inverse: 0.7576 | 1.2545 Inverse: 0.7971 | 1.0947 Inverse: 0.9135 | 1.0582 Inverse: 0.9450 | 1.0700 Inverse: 0.9346 | 1.0443 Inverse: 0.9576 | 1.0973 Inverse: 0.9113 | 1.0461 Inverse: 0.9559 |
No matter where you look around the world, there are few countries that share as close a relationship as Australia and New Zealand. Despite our heated rivalries across cricket, netball, rugby and a range of other sports, Australia and New Zealand maintain close political and economic ties.
With this in mind, there are plenty of reasons why Australian businesses might need to send money to New Zealand. From paying suppliers and settling debts to paying NZ-based staff, thousands of Aussie businesses regularly need to send funds across the ditch.
However, before you send an international money transfer to New Zealand or any other country around the world, it’s essential to shop around for the best exchange rate. Finding the best rate is crucial to ensure value for money from your transaction, so let’s take a closer look at how to find the best AUD/NZD exchange rate.
| Feb 11 | Mar 14 | Apr 14 | May 15 | Jun 15 | Jul 16 | Aug 16 | Sep 16 | Oct 17 | Nov 17 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 AUD = | 1.0484 Inverse: 0.9539 | 1.0338 Inverse: 0.9673 | 1.0596 Inverse: 0.9438 | 1.0555 Inverse: 0.9474 | 1.0581 Inverse: 0.9451 | 1.0469 Inverse: 0.9552 | 1.0546 Inverse: 0.9482 | 1.0820 Inverse: 0.9242 | 1.0741 Inverse: 0.9310 | 1.0648 Inverse: 0.9392 |
| Dec 03 | Dec 04 | Dec 05 | Dec 06 | Dec 07 | Dec 08 | Dec 09 | Dec 10 | Dec 11 | Dec 12 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 AUD = | 1.0510 Inverse: 0.9515 | 1.0459 Inverse: 0.9561 | 1.0438 Inverse: 0.9581 | 1.0418 Inverse: 0.9599 | 1.0418 Inverse: 0.9599 | 1.0423 Inverse: 0.9594 | 1.0424 Inverse: 0.9593 | 1.0406 Inverse: 0.9609 | 1.0440 Inverse: 0.9579 | 1.0464 Inverse: 0.9556 |
The exchange rate is the most important factor you need to consider when sending money overseas. The higher the AUD/NZD exchange rate, the less the transfer will cost your business.
However, there are two things that can affect the exchange rate you receive for your transaction:
If you take these two factors into account when sending Australian dollars to New Zealand, you’ll be able to drastically reduce the cost of your transfer.
| Australian Dollars (AUD) | New Zealand Dollar (NZD) |
|---|---|
| $1 | 0 |
| $100 | 0 |
| $500 | 0 |
| $1000 | 0 |
| $1500 | 0 |
| $2500 | 0 |
| $5000 | 0 |
With a reputation as a stable currency, the Australian dollar (AUD) is the fifth most traded currency around the world. First introduced in 1966, the AUD was once pegged to the British pound (GBP) but is now a floating currency free of any foreign exchange controls.
Meanwhile, the New Zealand dollar (NZD) was introduced as NZ’s official currency in 1967. Initially pegged to the US dollar (USD), the NZD became a floating currency in 1985. Today, the NZD commonly features in lists of the world’s 10 most traded currencies.
The AUD has historically traded at a higher value than the NZD but, thanks to the heavy reliance of both countries’ economies on commodities, the AUD/NZD is not as volatile as other exchange rates.
In the 10 years to 29/05/2017, AUD$1 traded at a value between NZD$1.00 and NZD$1.37. While the highs were reached during 2011 on the back of Australia’s resources boom, the two currencies reached parity briefly in April 2015 as the commodities boom came to an end and New Zealand’s economy benefited from increased Asian demand for its agricultural products.
The table below shows the value of the AUD relative to the NZD in the past 10 years:
| January 2007 | January 2012 | January 2017 | |
|---|---|---|---|
| AUD$1 = | NZD$1.118804 | NZD$1.312862 | NZD$1.039988 |
The answer to this question depends on a wide range of factors. Because there are no foreign exchange controls on either the AUD or NZD, the value of both currencies can be affected by everything from the strength of their underlying economies to demand on global currency markets.
As a result, the AUD/NZD exchange rate is constantly fluctuating. Check the exchange rate first thing on Monday morning and it could be very different by close of business the same day. Due to these fluctuations, the exchange rate can move substantially up or down in a relatively short period of time. For evidence of this, visit a foreign exchange website and check out a graph of the AUD/NZD performance over the past day, week, month, year or even longer.
Shaun’s office supplies business had recently set up a small branch in Auckland, and Shaun needed to move AUD$10,000 to New Zealand as an emergency fund to cover any unexpected business expenses. As there was no immediate deadline for this transfer, Shaun decided to spend a little while waiting for the best possible AUD/NZD exchange rate to become available.
When he first started calculating transfer costs in September 2016, AUD$1 was valued at NZD$1.02. But just a month later in October, the rate had risen to AUD$1 = NZD$1.07. Sending the transfer now would result in significantly better value for money for Shaun, but he decided to wait a little longer for the rate to rise further.
He was rewarded when in March 2017, AUD$1 rose to a value of NZD$1.09. As the table below shows, Shaun’s patience allowed him to send up to NZD$700 extra to New Zealand.
| September 2016 | October 2016 | March 2017 | |
|---|---|---|---|
| Transfer amount (in AUD) | AUD$10,000 | AUD$10,000 | AUD$10,000 |
| Exchange rate | AUD$1 = NZD$1.02 | AUD$1 = NZD$1.07 | AUD$1 = NZD$1.09 |
| Amount received (in NZD) | NZD$10,200 | NZD$10,700 | NZD$10,900 |
The ideal time to transfer AUD to New Zealand is when the AUD/NZD exchange rate is at its peak. In other words, this is the time when the AUD is valued as highly as possible relative to the NZD, allowing you to access the best value for money on your transfer.
However, there are myriad factors that can affect the exchange rate, including the following:
Despite the fact that there is some uncertainty when predicting exchange rate moves, there’s still plenty of things you can do to stay up to date with developments that could drive the AUD/NZD rate up or down.
So when is the best time to send AUD to NZD? The graph below tracks the performance of the AUD/NZD exchange rate in the year preceding 30/05/2017. As you can see, the best times to change AUD into NZD during that time were:
Meanwhile, the worst time to change AUD to NZD during this time was in September 2016, when AUD$1 = NZD$1.02.
Once you’ve decided on the best time to send your international transfer, you next need to choose the best transfer provider to handle your transaction. Exchange rates and transfer fees differ substantially between providers and can make a huge difference to the cost of your transactions.
There are three types of money transfer providers to consider:
Nick is the manager of a small Australian retail business. He needs to send NZD$10,000 across the ditch to pay a bill for legal services his company has used.
Nick usually uses his bank to send money overseas, but upon noticing how far their AUD/NZD exchange rate is below the mid-market rate, he decides to shop around for a better deal. He compares his bank with a cash transfer provider and an online transfer company to see who comes out on top.
As you can see in the table below, while the cash pickup transfer provider offers significant savings compared to his bank, the specialist online transfer company far and away offers the best deal. By choosing the online provider instead of his bank, Nick can save an impressive AUD$439.73.
This is a clear example of just how important it is to compare your transfer options and shop around for the best available exchange rate.
| Bank | Cash pickup transfer provider | Online transfer provider | |
|---|---|---|---|
| Exchange rate | AUD$1 = NZD$1.005200 | AUD$1 = NZD$1.024507 | AUD$1 = NZD$1.049699 |
| Transfer fee | $22 | $22 | $4 |
| Processing time | 2-5 days | 10 minutes | 2 days |
| AUD needed to send NZD$10,000 | $9,970.27 | $9,782.79 | $9,530.54 |
| Cost in AUD compared to bank (including fee) | - | $187.48 cheaper | $439.73 cheaper |
There are a few more steps you can take to improve your chances of finding the best exchange rate:
If you put these tips into action, you could potentially save hundreds of dollars the next time you need to send money to New Zealand.
Picture: Shutterstock
