🇨🇦 CAD vs 🇳🇿 NZD: Currency Strength Comparison
Data updated: November 6, 2026
On November 6, 2026, one Canadian Dollar bought 1.2825 NZD at the official reference rate, so per unit the Canadian Dollar is worth more. A higher unit value only reflects how each currency is denominated, not which one is gaining: over the past 12 months CAD strengthened by 2.4% against NZD, so on momentum the Canadian Dollar (CAD) is the stronger of the two.
Adjusted for consumer-price inflation in both economies, CAD gained 3.1% in real terms against NZD over the same period.
CAD relative to NZD
Positive values mean CAD strengthened against NZD.
CAD vs NZD over the last three years
CAD against NZD, index 100 on November 6, 2023. A rising line means CAD gained on NZD. Dashed: the same, adjusted for consumer-price inflation in both economies. Green dot: 3-year high, red: 3-year low.
- 3-year high: 104.6 on November 6, 2026, when CAD was at its strongest against NZD in the period.
- 3-year low: 94.9 on September 30, 2024.
- Now: 104.6, at the 3-year high: CAD has not been stronger against NZD at any point in the period.
- Sharpest one-month move: CAD rose 5.4% against NZD between March 18, 2025 and April 9, 2025.
What moved CAD and NZD
- · 🇳🇿 RBNZ hikes OCR to 2.50% — New Zealand's central bank raises rates again to bring inflation back to target
- · 🇨🇦 US declines to extend CUSMA deal — The US-Canada-Mexico trade pact stays in force but shifts to annual reviews, not a 16-year extension
- · 🇳🇿 RBNZ cuts to 2.25%, signals end — RBNZ cuts to a three-year low while signaling its easing cycle is complete
- · 🇨🇦 Trump cancels all Canada trade talks — Trump terminates trade negotiations with Canada after a dispute over an anti-tariff ad
- · 🇳🇿 RBNZ starts cutting — RBNZ begins easing cycle, cuts from 5.50% peak
- · 🇨🇦 BoC starts cutting — Bank of Canada begins easing cycle, cuts to 4.75%
Major central-bank decisions, elections and shocks for the two currencies since November 6, 2023. The interactive chart marks them on the line.
Performance against 15 major currencies
| Currency | 12-month change vs basket | Rank |
|---|---|---|
| 🇨🇦 Canadian Dollar (CAD) | +1.3% | #5 of 16 |
| 🇳🇿 New Zealand Dollar (NZD) | -1.2% | #9 of 16 |
Open the interactive CAD/NZD chart →
How this comparison works
Each currency's strength index starts at 100 and accumulates its daily change against 15 other major currencies (a geometric mean of pairwise exchange-rate moves), using European Central Bank reference rates and other official sources. The relative figures above divide CAD's index by NZD's, so they reflect the two currencies' performance against each other while accounting for the whole basket. The real variant additionally adjusts each currency for its domestic CPI inflation.
Read the full methodology →Frequently asked questions
Is CAD stronger than NZD right now?
It depends on the question. Per unit, 1 CAD = 1.2825 NZD (reference rate, November 6, 2026), so the Canadian Dollar is worth more. As for which one is gaining, over the past 12 months CAD strengthened by 2.4% against NZD, so on momentum the Canadian Dollar (CAD) is the stronger of the two.
How do CAD and NZD perform against other major currencies?
Against a basket of 15 major currencies over the past 12 months, CAD ranks #5 of 16 (+1.3%) while NZD ranks #9 (-1.2%).
What does the CAD vs NZD strength comparison show?
Rather than a single exchange rate, this page compares how each currency performed against a basket of 15 major currencies, then derives their relative strength. It filters out moves caused by the other currency alone and shows who is truly stronger.
How often is the data updated?
Every trading day (Monday to Friday), after the European Central Bank publishes its reference rates, usually around 16:00 CET.