The Australian dollar against the New Zealand dollar exchange rate (AUDNZD) changes every second. This article shares bank forecasts to help you predict changes in the AUDNZD rate.
2021 AUD to NZD: slowly trending higher
Top banks in Australia and New Zealand have a less pessimistic outlook for both the Aussie (AUD) and the Kiwi (NZD) - reflected in their AUDNZD forecasts in 2021. Generally, their outlook for the NZD is more negative than positive compared to the AUD.
AUDNZD forecasts from bank majors 2021
Source: International bank aggregate data
How will the AUDNZD perform in 2021?
Why is the AUDNZD rising?
There are many reasons why the Aussie dollar has been getting stronger relative to the Kiwi.
These are the most likely:
- Tourism across the Tasman recommences, Australia bigger economy bounces compared to New Zealand
- Central bank policies to stimulate the economy is more effective in Australia than New Zealand
- New Zealand at greater risk of a recession, there’s only so much the government can do to help
- China’s demand for Australian commodities grows relatively more than New Zealand commodities
What do bank analysts think about the AUDNZD?
- ANZ says it’s hard to be upbeat on the NZD and expects the AUD to NZD exchange rate to end 2021 at 1.0800
- Westpac expects the AUD to NZD to rise to around 1.1100 by the end of the year
- NAB predicts the AUD to NZD forecast exchange rates for the end of this year to be 1.0900
3 Things to know about the AUDNZD cross
- AUD/NZD tells you how many New Zealand dollars are needed to purchase one Australian dollar
- The AUD/USD and the NZD/USD usually moves in tandem against other currencies, so the AUD/NZD cross moves on changes in the local economy rather than global factors
- The AUD/NZD is heavily influenced by commodity (raw material) prices. Australia exports energy and metals, while New Zealand ships agricultural products
AUD bank forecast major crosses for 2021
Buying NZ Dollars in Australia
If you like the reassurance of having the local currency readily available from the moment you step off the plane, you have three options to pick up the cash before you go:
- Buy the currency online and either collect it in-store or have it delivered to you
- Collect from a currency exchange store
- Most expensively, buy the currency at the airport
Travelex also offer a foreign exchange service online but it takes between two and five business days before the currency is ready for pick-up or delivery so you need to be organised!
Buying your currency in-store can be a good option but it all depends on where you go. The money changers in the centre of the main cities tend to be more competitive than smaller stores in the suburbs.
Only change money at the airport as a last resort. The exchange rates and fees at Australian airports are among the worst in the world so avoid it at all costs if you want to get the best bang for your buck.
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The Australian dollar against the US dollar exchange rate (AUDUSD) changes every second. This article shares bank forecasts to help you predict changes in the AUDUSD rate.
Australian dollar exchange rates and forecasts change all the time. This article looks at bank predictions and is updated regularly.