Aussie dollar hits 13-year high against New Zealand
The Australian dollar jumped above NZ$1.25 this week, its strongest level in more than 13 years.
The Aussie has climbed more than 10 per cent against the New Zealand dollar over the past year, giving Australian travellers much more spending power across the Tasman. The jump happened this week as markets saw an above-80 per cent chance of an RBA interest rate rise by late October, while the Reserve Bank of New Zealand surprised markets by holding rates steady.
The different economic paths in the two countries pushed the Australian dollar higher. For holidaymakers, the stronger currency means NZ meals, accommodation and attractions cost less in Australian dollars.
The shift also comes as many Australian retailers prepare for deeper discounts during Black Friday and Christmas sales.
- Above NZ$1.25
- Currency level
- More than 13 years
- Years since last high
- More than 10 per cent
- Annual gain against NZ dollar
- Above 80 per cent
- RBA rate rise probability
Why it mattersAustralians planning a New Zealand trip will get better value for money right now, with flights and spending stretching further.
AustraliaAustralian travellers will find NZ holidays more affordable for the first time in over a decade, though the stronger dollar may eventually put downward pressure on Australian retailers' profit margins.
✓ Claims checked against the source and corrected before publish. checked 1 h ago
