Forex Trading Brokers New Zealand

July 5, 2013 7:57 am

new_zealand_forexThe first official currency of New Zealand was introduced back in 1840 and it is called New Zealand pound. Until that point, both Australian and British coins were circulating in the nation and continued to do so up until 1900.

The banknotes of the Pound were produced by 6 trading banks up until 1924. After this year, a single uniform was implemented. A decade ago, the Reserve bank of New Zealand was established and this is what we would like to talk about on this topic.

There are many countries out there offering forex trading, but if you don’t have experience it is essential for you to know that there are different regulations, inflation rates, volatility and fluctuations on each market. So when the time comes and you decide that you want to start dealing with forex trading, it is important to pay attention to those things. Basically the most crucial thing you need to remember here is you will have to pay attention to the GDP of the country and the economic growth and political situation of the nation.

Leading Forex Brokers in New Zealand

The whole idea of decimalization in New Zealand was raised back in 1933 but was not put into place until 1967. In this year the New Zealand dollar officially replaced the pound. Actually there were lots of public discussions regarding the topic whether or not the new currency should be called that way, but in the end, the ‘dollar’ was officially chosen.

Initially it pegged the US dollar with rate of 1.62USD to 1 NZD but the rate was changing a couple of times during the years. However, the overall volatility is not that high. In 1979 new bills were made of polymer and thus a new design of the New Zealand dollar was presented. Since that year no coins under 5cent value were made. And this is the sum in which the values are rounded.

The central bank of New Zealand is the main regulatory authority that takes care of the inflation rates and currency rates. It is important to know that every person who want to start trading on forex markets in New Zealand should be aware of the fact that economic news are really important and they are more than useful when you are making analysis.

Here is a list of some brokers you can use in New Zealand:

XM.com
Think Forex
eToro
Markets.com

Where to Trade

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