Course NZD(New Zealand Dollar)-JPY(Japanese Yen) for today
Quotes NZD/JPY for today .
New Zealand Dollar
Introduced in 1840, the New Zealand Pound was the first official currency of New Zealand. Until that point, both British and Australian coins circulated in New Zealand, and continued to do so until 1897. The Pound banknotes were produced by the six different trading banks until 1924, when a single uniform design was implemented. A decade later, the Reserve Bank of New Zealand was established.
- Central bank: The Reserve Bank of New Zealand
- The New Zealand dollar (also called the kiwi) replaced the New Zealand pound in 1967.
- In the past two decades New Zealand has transformed from an agrarian economy to a globally competitive, industrialized, free market economy.
- New Zealand exports include dairy products, meat, wood and wood products, fish, and machinery.
- The New Zealand dollar is among the 10 most-traded currencies.
Importance of the Japanese Yen The Japanese Yen is the third most traded currency in the world, and the most heavily traded currency in Asia. Due to its relatively low interest rates, the Japanese Yen is often used in carry trades with the Australian Dollar and the US Dollar. A carry trade is a strategy in which a currency with low interest rate is sold in order to buy a currency with a higher interest rate.
- Central bank: The Bank of Japan
- Since its defeat in World War II, Japan has become one of the world's largest and most technologically advanced manufacturers of motor vehicles, electronic equipment, machine tools, and so on.
- The JPY has appreciated against USD since the 1970s, making Japan’s manufactured goods more costly and less competitive.
- The Bank of Japan keeps interest rates at near-zero, making JPY a popular “carry trade” currency against other higher-yielding currencies.