RateCheck

AUD to NZD — compare your quote with the mid-market rate

Australian Dollar → New Zealand Dollar

AUD → NZD is the trans-Tasman flow pair. The mid moves modestly day-to-day; AU and NZ banks typically run 1–2% over the mid on retail conversions, while online specialists clear under 0.5%.

Live rates unavailable — showing reference data. The gap shown may differ from the live figure; try again shortly.
Cost at the mid-market rate
832.26AUD
For 1,000 NZD · 1 AUD = 1.2015 NZD
Enter the rate you were quoted above to see the gap from the mid-market rate.
Spot mid source: fallback · Indicative only

About the AUD/NZD pair

This page shows today’s wholesale AUD/NZD mid-market rate beside the rate a bank, broker, or kiosk has quoted you. The result is the gap between the two, as a percentage and an amount, in four tiers: under 0.3%, 0.3–1%, 1–3% and over 3% of the amount. The mid-market rate is the rate banks trade at, not a rate you can transact at directly — providers add their margin on top, and that margin is the gap RateCheck shows.

Who sends money on this route

Australian dollars go to New Zealand dollars for Australians with family across the Tasman, for holiday and ski trips to Queenstown, and for Australian businesses paying New Zealand suppliers and staff.

Australian companies with New Zealand subsidiaries, property owners in Auckland and Central Otago, and parents funding students at New Zealand universities add regular transfers.

What moves AUD/NZD

The Reserve Bank of Australia and the Reserve Bank of New Zealand set the policy rates. The pair moves mainly on the gap between them and on the contrast between Australia's iron ore and coal exports and New Zealand's dairy exports.

Australia's quarterly consumer price index, its labour force survey and each RBA decision matter on one side. New Zealand's quarterly inflation, GDP and each RBNZ decision, along with dairy auction prices, matter on the other.

AUD/NZD is one of the steadier crosses, because both currencies tend to rise and fall together against the US dollar.

How to read a quote

AUD/NZD is quoted as New Zealand dollars per Australian dollar, a figure above one. A customer rate below the mid-market rate delivers fewer New Zealand dollars, and the gap is the provider's margin.

Retail bank margins on trans-Tasman transfers are commonly a few per cent; specialist providers are often under one per cent. The cross has direct liquidity in the wholesale market during Australasian hours.

The RBA’s cash rate target, its next decision date and AUD/USD on recent decision days are on the RBA cash rate page.

Common questions

How far is my AUD/NZD quote from the mid-market rate?+
Compare the rate you've been quoted with the live mid-market AUD/NZD rate — the wholesale rate banks trade at. RateCheck shows the gap as a percentage and an amount, in four tiers: under 0.3%, 0.3–1%, 1–3% and over 3% of the amount.
How much do banks and brokers charge to convert Australian dollar to New Zealand dollar?+
Retail bank margins on international transfers are commonly a few per cent; specialist providers are often under one per cent. The margin is built into the exchange rate, usually on top of any fixed transfer fee, and is rarely shown separately. RateCheck shows it as the gap between your quote and the mid-market AUD/NZD rate.
Is the mid-market AUD/NZD rate the rate I'll actually get?+
No. The mid-market (interbank) rate is the wholesale reference; providers add their margin on top. It's the rate the gap is measured from, not a rate you can transact at directly.
Why is AUD/NZD steadier than AUD/USD?+
The two economies share trading partners, business cycles and investor perceptions, so their currencies move together against the US dollar most of the time. The cross between them changes far less.
Do trans-Tasman transfers settle quickly?+
Many providers settle between Australia and New Zealand within a business day, helped by the overlap in banking hours. The rate is applied when the transfer is priced, not when it lands.
Can Australians hold New Zealand dollar accounts?+
Yes. Some Australian banks and providers offer multi-currency accounts that include New Zealand dollars, and New Zealand banks open accounts for Australian residents in many cases. Each conversion still carries a margin.

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