How to Convert the New Zealand Dollar to a Euro
Since 1985, the New Zealand dollar (NZD) has been a floating currency. Thus, there are not fixed exchange rates for converting NZD to other currencies such as the European Union's euro (EUR). Instead, the exchange rate for the NZD-EUR currency pair is continually adjusted to reflect changes in international market conditions.
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Instructions
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Use a trusted source to obtain current information about foreign exchange rates. The authoritative source for the NZD-EUR exchange rate is the Reserve Bank of New Zealand, the central bank of New Zealand. The Reserve Bank publishes the current and historical NZD exchange rates on its website.
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Look up the current NZD-EUR exchange rate in the table on the Reserve Bank's website. Locate the current NZD-EUR rate under the column labeled "Euro" and in the row labeled with today's date. Exchange rates are expressed as decimal fractions. For example, on March 2, 2010, the NZD-EUR exchange rate was 0.5159, meaning that 1 New Zealand dollar (NZ$) would convert to 0.5159 euro (€).
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Use a calculator to convert NZD to EUR. Multiply the amount of New Zealand dollars you want to convert to euros by the current NZD-EUR exchange rate. On March 2, 2010, if you had wanted to convert 25 New Zealand dollars to euros, the calculation was: NZ$25 X 0.5159 = €12.8975.
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Tips & Warnings
You can check your results using an online currency conversion calculator.
When exchanging currencies, shop around for the best commercial rate. It is common for banks, credit card companies and currency exchange businesses to charge proportional transaction fees for exchanging currencies even in electronic transactions. These fees are assessed through lowered effective exchange rates.
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