The EURNZD shows the number of NZD, the currency of New Zealand, required to purchase one EURO, the currency of the Eurozone. Both currencies are highly important. For instance, the EURO is the second most traded currency in the world, and NZD is among the world’s high-yielding commodity currencies.

What is EURNZD?

The EURNZD pair is also known as the Euro Kiwi and is traded on the forex market. The countries' central banks manage both currencies, i.e., the Reserve Bank of New Zealand (RBNZ) and the European Central Bank (ECB). Changes in the monetary policies of these banks greatly influence currency pair values. Besides, many other key factors cause currency price fluctuations.

Economic data refers to the facts and figures that tell about the economic state of a country. For instance, it includes the inflation rate, employment rate, trade balance, etc. Political events like changes in government policies regarding tax, trade, elections, political crises, etc., significantly influence the EURNZD pair. Moreover, commodities such as dairy products, meat, and wool are the major exports of New Zealand. When the price of these commodities changes, it impacts trade balance, inflation, market sentiment, etc., which causes fluctuations in the exchange rate. Investors who want to understand how to trade EURNZD should be aware of these factors.

How does EURNZD work?

It works through trading in the forex market on online platforms like SimpleFX. It provides solutions such as a demo account, which enables traders eager to learn how to invest in EURNZD start without risking their real assets.

Besides already mentioned factors, investor sentiment, market volatility, etc., also play their role in changes in the EURNZD price.

EURNZD price history

While investing in currency pairs, prior research is a must, and a vital aspect of the research is knowing about the past performance of the currency pairs. Here's the summary of the EURNZD performance from 2018-2022.

However, investors must remember that referring to the past performance of this asset may not be a reliable indicator of future results.

2018

On Monday, 1st January 2018, the EURNZD price was 1.6949 NZD, and the year ended with the exchange rate at 1.7095 NZD. The year's best performance was on 6th October 2018 with 1.7897 NZD, whereas the worst performance of 1.6357 NZD was observed on 4th December 2018. The average value of the year was 1.707 NZD.

2019

The year started with the currency pair rate at 1.7065 NZD and ended at 1.6703 NZD. The best and the worst exchange rate values were 1.761 NZD on 21st September 2019 and 1.632 NZD on 26th March 2019, respectively. However, the year's average value was 1.6997 NZD.

2020

The EURNZD price on 1st January 2020 was 1.6656 NZD, also the year's worst value, and by its end, it reached 1.7014 NZD. The year's best exchange rate was 1.9127 NZD on 18th March 2020. The average exchange rate of the year was 1.757 NZD.

2021

On 1st January 2021, the EURNZD exchange rate was 1.7135 NZD; on 31st December 2021, it dropped to 1.6619 NZD. The best exchange rate of the year was observed on 2nd January 2021, i.e., 1.7136 NZD; the worst rate was 1.6082 NZD on 19th November 2021. The year's average exchange rate value was 1.6726 NZD.

2022

The EURNZD exchange rate value at the start of the year was 1.6624 NZD; on 31st December 2022, it was 1.6894 NZD. The year's best and worst exchange rate values were 1.7545 NZD on 30th September 2022 and 1.5698 NZD on 5th April 2022, respectively. The year's average was 1.6586 NZD.

Current EURNZD price

The current EURNZD price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is EURNZD a good investment?

Whether EURNZD is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors eager to learn how to invest in forex worldwide.

Trade EUR/NZD the Simplest way.

Trade EURNZD

Don't have an account yet?

Open it!