The Great Britain Pound (GBP) is the United Kingdom's currency. In the local language, it's known as quid and is one of the most traded currencies in the forex market. On the other hand, the New Zealand Dollar (NZD) is the official currency of New Zealand. It's also known as the Kiwi dollar and is relatively new. Still, on average, its daily trading volume is US $68 billion. It represents the exchange rate between the GBP and NZD.

What is GBPNZD?

The GBPNZD is a cross-currency pair, meaning traders don't have to convert the pair into US dollars before trading. It is marked by the tightened spread, making moving from one currency to another cheaper. On the other hand, being a volatile pair causes more rapid and more common price fluctuations. Everybody willing to understand how to trade GBPNZD must keep tabs on daily financial news.

Different factors are responsible for these fluctuations, and traders must have a deep sight of them. These factors include the economies of Great Britain and New Zealand, interest rates, and domestic political transparency. Other factors impacting the GBPNZD exchange rates include trade and investment flows and market sentiments.

How does GBPNZD work?

The GBPNZD works by trading on the forex market through speculation. Here, the traders interested in the currency pair speculate the price fluctuations and buy or sell it when they find a good opportunity. But before that, they must open a trading account to jump into the forex market. Everybody who wants to learn how to invest in GBPNZD can start with a demo account available on the SimpleFX platform. Before switching to a live trading account, potential traders have the chance to practice and implement trading strategies before risking actual funds.

GBPNZD price history

In currency trading, knowing about the past performance of the currency pair is essential. Therefore, SimpleFX briefly summarized the performance of the GBPNZD pair from 2018 to 2022.

2018

At the beginning of the year, GBPNZD's price was 1.9068 NZD, and by the end of the year, it was 1.8953 NZD. The peak exchange rate of the year was 2.0432 NZD on 10th October 2018, and the year's worst value was 1.8142 NZD on 11th December 2018. The average exchange rate value of the year was 1.9289 NZD.

2019

The year started with the exchange rate at 1.8985 NZD and ended at 1.9735 NZD. The year's maximum exchange rate was 2.0374 NZD on 16th October 2019, and the minimum value was 1.8382 NZD on 30th July 2019. 1.9383 NZD was the year's average.

2020

On 1st January 2020, the GBPNZD price was 1.9674 NZD; on 31st December 2020, it dropped to 1.9042 NZD. The year's best exchange rate was 2.094 NZD, recorded on 2nd April, and the worst exchange rate value was 1.8663 NZD on 12th December. The year's average exchange rate in 2020 was 1.9755 NZD.

2021

The year began with the GBPNZD exchange rate of 1.9308 NZD and ended with a value of 1.9777 NZD. The highest value in the year was 1.9985 NZD on 18th August 2021, and the lowest value was 1.865 NZD on 6th January 2021. The year's average exchange rate in 2021 was 1.9453 NZD.

2022

This year started with an exchange rate of 1.9777 NZD and ended at 1.9055 NZD. The peaked GBPNZD exchange rate was 2.0513 NZD on 2nd February 2022, and the worst value was 1.8806 NZD on 14th August 2022. The year's average exchange rate was 1.9451 NZD.

Current GBPNZD price

The current GBPNZD price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is GBPNZD a good investment?

Whether GBPNZD is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors eager to learn how to invest in forex worldwide.

Trade GBP/NZD the Simplest way.

Trade GBPNZD

Don't have an account yet?

Open it!