New Zealand Economic Information
Central Bank: Reserve Bank of New Zealand
Currency: New Zealand dollar (NZD, NZ$ or Kiwi)
Greatly dependent on international trade, New Zealand's economy benefits from its proximity to the Australia's strong economy. Considered one of the most business-friendly countries, New Zealand enjoys one of the lowest unemployment rates in the developed world. The New Zealand dollar, or kiwi, is a commodity-linked currency and, due to New Zealand's high interest rates, a popular currency to purchase for Carry Trades.
Key industries:
Food processing, wood and paper products, textiles, machinery, transportation equipment, banking and insurance, tourism and mining.
Agricultural products:
Dairy products, lamb and mutton, wheat, barley, potatoes, pulses, fruits, vegetables, wool, beef and fish.
Export commodities:
Dairy products, meat, wood and wood products, fish and machinery.
Import commodities:
Machinery and equipment, vehicles and aircraft, petroleum, electronics, textiles and plastics.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of 11/1/2009. These rates were not available to retail customers and were not the rates offered by EverBank®. Past performance does not guarantee future results. |
A few factors to consider when evaluating the New Zealand dollar:
Reasons to consider
- As the second-highest yielding G-10 currency, the New Zealand dollar remains highly sensitive to domestic interest rate development.
Risk factors to consider
- In August of this year, New Zealand reported a 10-year high unemployment rate at 6%
- The New Zealand dollar is affected by the decline in world trade, which began in late 2008.
- The banks, though financially sound, are heavily reliant on foreign borrowing.
- Large current account deficit.
- New Zealand dollar was down -24.47% against the US dollar in 2008.
How EverBank can help with your New Zealand dollar needs?
WorldCurrency® CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Index CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Index CD(s):
WorldCurrency Access Deposit Account: Open a transactional money market account in the currency of your choice.
I'm interested in opening a WorldCurrency® account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
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- EverBank, the EverBank Infinity Sphere and the EverBank logo, along with WorldCurrency are proprietary service marks of EverBank. All rights reserved.
