NZDUSD definition

NZD/USD is the exchange rate between the New Zealand dollar and the US dollar, showing how many US dollars one New Zealand dollar will buy. It is counted among the major pairs, at about 1.2% of the roughly $9.6 trillion that changes hands in the global forex market each day (BIS Triennial Survey, 2025), with good liquidity though slightly wider spreads than the largest majors. Traders know it as the "Kiwi".

The New Zealand dollar is the base currency and the US dollar the quote currency, so a quote of 0.6100 means one New Zealand dollar is worth 0.6100 US dollars. A rising price means the Kiwi is strengthening against the dollar, a falling price the reverse. You trade NZD/USD as a forex CFD, taking a view on the price rather than buying New Zealand dollars outright: go long if you expect it to rise, short if you expect it to fall. Pips are at the fourth decimal place, and your profit or loss is the pips gained or lost times your position size.

The Kiwi is a risk-on currency steered by the Reserve Bank of New Zealand, but its exports give it a distinctive tilt: dairy is New Zealand's top earner, so swings in global dairy prices feed straight into the currency. Chinese demand feeds in as well, since China is a key buyer of New Zealand goods, and like its Australian cousin the Kiwi tends to rise when risk appetite is healthy and fall when sentiment sours.