Forex glossary
NZD/USD (Kiwi)
NZD/USD states US dollars per New Zealand dollar. NZD is the base currency and USD the quote currency; the pair is often called kiwi. Economic conditions and rate expectations can influence it, but the commodity-currency label does not determine its direction.
Illustrative example
How does it work in practice?
At a hypothetical NZD/USD rate of 0.6000 USD per NZD, 3,000 NZD is valued at 1,800 USD. A fall to 0.5950 reduces its USD value by 15 USD before costs.
A case to work through
A budget instead of lots
Model: exchange 900 USD at 0.6000 USD/NZD, without fees.
- NZD quantity is 900/0.6000 = 1,500.
- Check: 1,500 × 0.6000 returns 900 USD.
What follows? Label units on both sides of the conversion.
Example boundary: This assumes one exchange price and no contract restrictions.
A useful distinction
NZD/USD (Kiwi) / AUD/USD (the aussie)
AUD/USD uses AUD as base; NZD/USD uses the different currency NZD.
Check your understanding
Convert a quote-currency budget into base units.
Show the answer and explanation
2,000 NZD
1,200 / 0.6000 = 2,000.
Pair units and result currency
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Read the fuller explanation
Related terms
Sources and documentation
- Saxo: major-pair convention
A common retail majors list rather than legal margin categories.
The example illustrates the mechanism. Check current account conditions and instrument specifications with the provider.