The symbol stands for New Zealand Dollar/United States Dollar. It tells the reader about the amount of US dollars needed to buy one New Zealand Dollar. In this particular pair, the NZD is the base currency and the USD is the counter currency.
General facts and information
The New Zealand Dollar/US Dollar pair is also referred to as the Kiwi. The NZD is one of the three major commodity currencies, the other two are AUD and CAD. New Zealand was crowned in the year 2005 as the world’s most favourable country for businesses by the World Bank. This small, scenic Island is not only politically peaceful and economically strong, but is also one of the most investment-friendly countries. Lately, it has made sure that it serves as a hub for businesses and investments by being extremely lenient in the regulations it places over business activities.
The climate and land in New Zealand has enabled it to emerge as one of the most successful countries with an agrarian economy. Its services and industrial sectors are equally operational. Its export base comprises of top-notch goods and services.
The US is the world’s super power and the most favoured country by many multinational giants. It has proven itself to be an integral part of the world economy. As a result, the USD has become the globe’s most heavily traded currency.
As with all other commodity currencies, the NZD fluctuates every now and then, making the pair more or less reliant on the trends that prevail in the market.
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