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EUR-NZD As idle cash looks to find a strong and secure yield, it is no wonder that the New Zealand Dollar has benefited from the current Euro-Zone crisis. Pairs such as the Australian Dollar and New Zealand Dollar are often viewed as a proxy for Chinese growth and thus have performed well against the Euro in recent years. Although Chinese growth may become a cause for concern as the nation shifts away from export led growth, weakness in the Euro-Zone may cap any significant reversal.
DEFINITION of ‘NZD (New Zealand Dollar)’
The currency abbreviation or currency symbol for the New Zealand dollar (NZD), the currency of New Zealand. The New Zealand dollar is made up of 100 cents and is often represented by the symbol $ or NZ$ to set it apart from other currencies based in dollars. The currency is also used in the Cook Islands, Niue, Tokelau, and the Pitcairn Islands.
Also known as the Kiwi.
Read more: Currency Symbol: NZD (New Zealand Dollar) – Forex – Investopedia Definition | Investopedia http://www.investopedia.com/terms/forex/n/nzd-new-zealand-dollar.asp#ixzz4Gbm8yNb5
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BREAKING DOWN ‘NZD (New Zealand Dollar)’
When New Zealand’s currency was decimalized in 1967, the New Zealand dollar replaced the New Zealand pound at a rate if 2 dollars to 1 pound. Initially pegged to the United States dollar (USD), the New Zealand dollar went through a series of changes in the fixed exchange rate until March of 1985, when the currency was allowed to float freely.
The currency is often known as a kiwi because of the national bird found stamped on the one dollar coin.
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