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The official cash rate (OCR) is the term used in Australia and New Zealand for the bank rate and is the rate of interest which the central bank charges on overnight loans between commercial banks. This allows the Reserve Bank of Australia and the Reserve Bank of New Zealand to adjust the interest rates that apply in each country's economy. The ...
Here, EUR is the base currency and USD is the quote currency (counter currency). This means that 1 Euro can be exchangeable to 1.25 US Dollars. The most traded currency pairs in the world are called the Majors. They involve the currencies euro, US dollar, Japanese yen, pound sterling, Australian dollar, Canadian dollar, and the Swiss franc.
The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; [2] [3] and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
In the context of currency trading, the New Zealand dollar is sometimes informally called the "Kiwi" or "Kiwi dollar", [3] since the flightless bird, the kiwi, is depicted on its one-dollar coin. It is the tenth most traded currency in the world, representing 2.1% of global foreign exchange market daily turnover in 2019. [4]
LONDON (Reuters) -Trend-following hedge funds took a hit from their bets on the New Zealand dollar and Japanese stocks and bonds in August, when global markets were rattled by extreme volatility ...
In 1967, New Zealand decimalised its pound into two new New Zealand dollars and later that year, when the pound sterling was devalued, New Zealand took the opportunity to realign its new dollar to parity with the Australian dollar. In 1971, New Zealand changed its peg to the US dollar, and in 1972, just like the United Kingdom and Australia ...
HSBC chief economist for Australia and New Zealand, Paul Bloxham, was so impressed that he predicted New Zealand's growth would outpace most of its peers, and he described New Zealand as the "rock star economy of 2014". [87] Another financial commentator said the New Zealand dollar was the "hottest" currency of 2014. [88]
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