NZD to USD in 2025: the year in numbers
Updated September 26, 2026
The New Zealand dollar averaged 0.58179 US dollars in 2025, based on 255 ECB-based cross rates. That was 3.91% below the 2024 average of 0.60548. The year had a clear hump: the kiwi hit its low of 0.55551 on January 13, climbed to a high of 0.61116 on July 1, and then drifted back down. It finished the year at 0.57655, 2.8% above where it started.
The hump in three stages
Rise: January to June
After the January low, the kiwi gained almost every month. Monthly averages rose from 0.56291 in January to 0.57242 in March and 0.59366 in May. June was the strongest month of the year, with an average of 0.6025.
April was the most turbulent month on the way up. The kiwi fell to 0.55564, almost matching the January low, and then surged to 0.59955 before the month ended.
Peak: July
The high of the year, 0.61116, came on the first day of July. The month then turned lower and closed at 0.59076, its low.
Decline: August to November
From August the monthly averages fell: 0.58983 in August, 0.57583 in October and 0.56562 in November. November's average was the lowest since January. December brought a small recovery to 0.57824.
The monthly table
| Month | Average | Low | High | Last rate |
|---|---|---|---|---|
| January | 0.56291 | 0.55551 | 0.5703 | 0.56511 |
| February | 0.56785 | 0.55764 | 0.57544 | 0.56036 |
| March | 0.57242 | 0.56055 | 0.58146 | 0.56816 |
| April | 0.58251 | 0.55564 | 0.59955 | 0.59176 |
| May | 0.59366 | 0.58754 | 0.60134 | 0.59626 |
| June | 0.6025 | 0.5897 | 0.60756 | 0.60619 |
| July | 0.59973 | 0.59076 | 0.61116 | 0.59076 |
| August | 0.58983 | 0.58104 | 0.59845 | 0.58846 |
| September | 0.58842 | 0.5762 | 0.59825 | 0.5796 |
| October | 0.57583 | 0.56886 | 0.58314 | 0.57164 |
| November | 0.56562 | 0.56031 | 0.57139 | 0.57125 |
| December | 0.57824 | 0.57229 | 0.58378 | 0.57655 |
Why a lower yearly average and a higher year-end
The 2025 average was below 2024, yet the kiwi ended the year higher than it began. Both statements are true because the kiwi spent the first quarter at low levels and the second half gave back only part of its mid-year gains. When reading annual figures, the monthly table explains what the average cannot.
What it meant for New Zealanders
Importers. Fuel, vehicles and electronics are largely priced in US dollars. The best months to buy were around June and early July, when each New Zealand dollar bought the most.
Exporters. Dairy, meat and forestry exporters receive US dollars. For them, the weak kiwi of January and November meant more New Zealand dollars per US dollar of sales.
Travellers. A trip to the United States in June cost noticeably less in New Zealand dollars than one in January.
Investors. Kiwi investors holding US shares saw the New Zealand dollar value of those holdings rise in the second half of the year, as the kiwi weakened from its July peak.
Using the 2025 figures
For accounts that accept ECB-based rates, the yearly average of 0.58179 suits income items and the year-end rate of 0.57655 suits balances. Many New Zealand businesses use the rates published by the Reserve Bank of New Zealand, set at a different time of day, so small differences are normal.
For planning, remember how far the rate travelled within a single year: from 0.55551 to 0.61116. A budget for 2026 that assumes a fixed rate carries real risk for any business with large US dollar flows.
What to do
- See every month on NZD/USD in 2025: monthly table.
- Compare the start and end of the year on NZD/USD in January 2025 and NZD/USD in December 2025.
- Check the NZD to USD exchange rate today before your next payment in dollars.
- For regular US dollar costs, set a quarterly review of your budget rate.
Questions and answers
What was the average NZD to USD rate in 2025?
The New Zealand dollar averaged 0.58179 US dollars in 2025, across 255 ECB-based cross rates, 3.91% below 2024.
When was the kiwi strongest against the US dollar in 2025?
On July 1, 2025, at 0.61116 US dollars. June had the highest monthly average, 0.6025.
Did the New Zealand dollar end 2025 higher than it started?
Yes. It moved from 0.56086 on the first fixing to 0.57655 on the last, a rise of 2.8%.