The New Zealand dollar weakened to $0.594 on Monday, approaching its lowest level since late January, as escalating tensions in the Middle East dampened risk sentiment. Over the weekend, the US and Israel launched an attack on Iran, resulting in the death of Iran’s Supreme Leader, Ayatollah Ali Khamenei. Iran responded with retaliatory strikes at US bases in neighboring countries, raising concerns about a wider regional conflict and prompting investors to seek safer assets. The kiwi also declined due to diminishing expectations for near-term monetary tightening by the Reserve Bank of New Zealand. Last month, Governor Anna Breman said the economy has scope to recover this year without triggering inflationary pressures, signaling less urgency for an imminent rate hike. Her remarks came after the RBNZ held its cash rate steady and emphasized the need to keep policy accommodative. Investors now see small chance of a first rate increase until December.
The NZD/USD exchange rate fell to 0.5947 on March 2, 2026, down 0.85% from the previous session. Over the past month, the New Zealand Dollar has weakened 1.62%, but it's up by 5.53% over the last 12 months. Historically, the New Zealand Dollar reached an all time high of 1.49 in October of 1973. New Zealand Dollar - data, forecasts, historical chart - was last updated on March 3 of 2026.
The NZD/USD exchange rate fell to 0.5947 on March 2, 2026, down 0.85% from the previous session. Over the past month, the New Zealand Dollar has weakened 1.62%, but it's up by 5.53% over the last 12 months. The New Zealand Dollar is expected to trade at 0.60 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.61 in 12 months time.