The British pound to the New Zealand dollar can hardly be called a popular financial instrument in the Forex market, but there are loyal traders to this pair. Traders trading in the GBP / NZD pair are not afraid of risks and high volatility. When trading this instrument, many factors of the New Zealand economy should be taken into account:
The basis of the economy of New Zealand is agriculture, primarily the production and processing of dairy products, which is exported around the world. The country aspires to receive electricity from renewable sources, which in 2018 completely closes coal generation. In New Zealand, the tourism business is actively developing, which received a new impetus after the filming of the movie trilogy "The Lord of the Rings" in this country.
The leading direction of the British economy is the service sector. The UK provides 10% of global exports of services, including banking, brokerage, advisory and programming. The second most important sector of the economy is industry: mining (2.2% of GDP) and manufacturing (14.7% of GDP). The main export of the country is engineering, transport, industrial goods and chemicals. Oil production since the 1970s brought a significant profit in trade and allowed to reduce the import of petroleum products.
Using the current exchange rate chart, you can monitor the volatility of the currency pair in real time.
The GBP / NZD pair is built on the principle of direct quotation. The base currency is GBP, the British pound, and the quoted NZD, the New Zealand dollar. The growth of the currency pair means the strengthening of the British pound against the New Zealand dollar, that is, to buy one GBP, more NZD is required. A decrease in the exchange rate indicates the strengthening of the New Zealand dollar.
New Zealand Dollar - (bank code: NZD) - often referred to as "kiwi" - the official currency of New Zealand, also on the islands: Niue, Cook Islands, Tokelau and Pitcairn. The central bank of the country that also issues currency is the Reserve Bank of New Zealand. The New Zealand dollar is classified as high-yield commodity currencies because of the high correlation with gold and oil.
British pound, pound sterling or pound - (currency symbol: £, Bank code: GBP) is a currency that acts as the national currency of the United Kingdom of Great Britain and Northern Ireland (Great Britain), including England, Scotland, Wales and Northern Ireland. Also pound is a parallel currency of the crown lands of Guernsey, Jersey and the Isle of Man. The pound sterling is a legal tender for the British overseas territories: the Falkland Islands, Gibraltar, St. Helena, Ascension and Tristan da Cunha. The Bank of England has the right of money issue and regulation.
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