NZD/JPY exchange rate
NZD/JPY historical chart
Live NZD/JPY conversion rate
As of 2026-09-18 03:36:21 UTC, NZD/JPY (New Zealand Dollar / Japanese Yen) is 89.837, reconciled from ECB ref · live spot and refreshed every 1-minute ingest / daily reference fallback. Every observation is point-in-time and labels its source class and timestamp — backtest-safe and reproducible. NZD/JPY is available over the REST API and an MCP server on exchangerate.dev, with a free tier to start.
NZD to JPY and JPY to NZD
How do I query NZD/JPY?
One authenticated GET returns the latest value with its timestamp and source. Swap the language tab for your stack.
Reference
Latest NZD/JPY indicative spot rate — value, timestamp, source, and market_session.
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Use NZD/JPY in your application
Try the current indicative rate without a key. The response labels sources.JPY, effective_at.JPY and market_session; check those fields before treating a value as fresh.
curl -fsS "https://api.exchangerate.dev/v1/latest/NZD?symbols=JPY"Daily reference history is available where this pair has published observations. This pair is eligible for intraday market observations at 1m, 5m, 15m, 1h, 4h; missing buckets remain gaps. This pair is also eligible for authenticated WebSocket updates. See interval and history limits · WebSocket integration guide · Plan and commercial-use details.
NZD/JPY — Kiwi-Yen Carry Dynamics
NZD/JPY combines the New Zealand dollar, a high-yielding commodity currency, with the Japanese yen, the world's most widely used funding currency. This makes it a natural carry-trade vehicle: borrow in yen at near-zero rates, invest in New Zealand fixed income at higher rates.
Because New Zealand is a smaller, open economy, NZD is sensitive to global risk sentiment, dairy prices, and RBNZ policy shifts. Japan's yen, conversely, responds to global safe-haven flows and the Bank of Japan's yield-curve control regime.
The pair tends to fall sharply during equity market selloffs (both legs move against the long position simultaneously) and to rise gradually during risk-on periods as the carry premium is slowly accumulated.
All rates are indicative from aggregated market data and public reference rates. Not for settlement.
Frequently asked questions
- How large is the carry trade in NZD/JPY?
- At peak rate differentials (RBNZ above 5%, BoJ near 0%) the annualized carry exceeds 500 basis points. Even a small daily adverse FX move can offset this, which is why carry trades are often entered with tight stop-losses.
- What New Zealand data moves NZD/JPY the most?
- RBNZ rate decisions and CPI releases have the biggest single-day impact. GlobalDairyTrade auction results also move NZD meaningfully given dairy's export weight.
- How does NZD/JPY respond to a global equity crash?
- Sharply downward. NZD sells off as risk sentiment deteriorates and commodity outlook dims; JPY simultaneously rises on safe-haven buying. The combined effect typically exceeds the move in either leg against USD.
- Is NZD/JPY well covered in the live currency set?
- Yes. Both NZD and JPY are in our live-updating currencies on exchangerate.dev. The cross rate derives from two live legs and updates approximately every 60 seconds through the trading week via /v1/latest/NZD?symbols=JPY.
- What is the historical range of NZD/JPY?
- The pair has traded as low as 42 yen per kiwi (during the 2008 financial crisis) and above 90 during peak carry-trade periods in 2007. The 2020s range has been roughly 65–90.
- Does BoJ's yield-curve control affect NZD/JPY?
- Significantly. When the BoJ caps Japanese government bond yields, it suppresses the yen and supports NZD/JPY. Any YCC adjustment or abandonment is a major risk event for this pair.