In the last 12 months, the best time to buy New Zealand Dollars with Australian dollars, was on the 1st of October 2022 when the AUD/NZD exchange rate reached 1.1451 compared with the current rate of 1.0745
In contrast, the worst time was just before Christmas on the 19th of December 2022, when it plunged below 1.05 for the first time in over a year.
While it's nearly impossible to time the market perfectly, if you are travelling to New Zealand and need to buy NZ dollars, a higher AUD/NZD exchange rate rate is better for you. It means that you will receive more NZ dollars to spend for each Australian dollars you have.
Working out the best time to buy NZ dollars
To work out the best time to buy your NZ dollars before a trip, instead of watching the exchange rate each minute, you can set up a rate tracker.
With a rate tracker, you can get
- Daily emails that tell you what the rate is
- An alert email for a particular rate that you want. For instance, if the AUD/NZD is at 1.05 but you want to buy it when it gets to 1.08 then you can set a rate alert for 1.08 and we'll notify you if it gets there
Make sure to also tell us you date of travel. You won't receive any more emails after this date.
You can also set up more than one alert. Choose a number of currencies including US dollars (USD), Japanese Yen (JPY), Euro (EUR) and British Pounds (GBP).
It's important not to leave it to the last minute. Even though S Money is one of the fastest ways to buy currency in Australia, you can't buy it on the day you are travelling. To allow for time, make sure you have ordered and paid for your order at least 4 days before you fly out.