Find the best exchange rate when converting your British pounds to New Zealand dollars.
If you’re a forex investor or simply looking to trade British pounds for the New Zealand dollar, get the most for your money with a strong exchange rate.
Today’s mid-market rate
The mid-market British pound–to–New Zealand dollar exchange rate is 1 GBP = 1.76 NZD. (Rate accurate as of March 9, 2017.)
How does the British pound trade against the New Zealand dollar historically?
The strong historical ties between the UK and New Zealand have made the pound and Kiwi dollar fairly equal in worth, with the pound slightly stronger.
The New Zealand dollar was introduced to the forex market in 1967 to replace the New Zealand pound. While the pound most closely connects to the Eurozone, the Kiwi dollars more closely connects to Australian and Asian economies. Unlike the UK, New Zealand is also a small and relatively dependent economy.
During its time of trading against each other, the NZD has occasionally profited through agriculture prices, but the best opportunities have been through instabilities in either the pound or the Kiwi dollar during periods of heavy inflation.
The effects of Brexit
Since the Brexit referendum — or Britain’s proposed exit from the EU — in June 2016, the British pound has declined against several currencies, including the New Zealand dollar. From June 2016 to July 2016, the GBP to NZD exchange rate declined from 2.02623 to 1.84068 per pound. Since then, it has declined even further to 1.7.
Though the British pound is historically stronger than the New Zealand dollar, Brexit could lead to a weaker pound as the British economy remains volatile.
GBP > NZD exchange rate history
We’ve put together the annual average exchange rate for the British pound against the New Zealand dollar from 2007 to 2016.
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Here’s the monthly average exchange rate for the British pound against the New Zealand dollar over the past 12 months.
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What affects the GBP > NZD exchange rates?
Plenty of factors influence the British pound and New Zealand dollar exchange rate. However, five main factors affect how the British pound trades against all currency.
Prices and inflation
Like with all currencies, countries with high levels of inflation will see higher currency depreciation when compared to other currencies.
The Bank of England controls the supply of the GBP and promotes its stability to control high levels of inflation.
Confidence and sentiment
When evaluating a currency, traders rely on public confidence about the economy. Whether the public is optimistic or pessimistic about the wealth and resources of the UK can shifting trends in the economy.
The UK’s economic activity is measured by its gross domestic product (GDP), which includes the preliminary GDP, the revised GDP and the final GDP.
Balance of payments
Even though the balance of payment is made up of three accounts, the only one that affects the exchange rate is the current account. The current account reveals how much a country is exporting and importing, and the flow of income and transfer payments.
Compare GBP exchange rates to more currencies
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When exchanging British pounds for New Zealand dollars, find a provider that offers two-sided quotes to understand the spread they charge. If they show you only the buy or sell rate — but not both — consider looking elsewhere. Ultimately, the closer you can get to the mid-market rate, the better the deal.