🇨🇭 CHF vs 🇳🇿 NZD: Currency Strength Comparison
Data updated: November 6, 2026
On November 6, 2026, one Swiss Franc bought 2.2029 NZD at the official reference rate, so per unit the Swiss Franc is worth more. A higher unit value only reflects how each currency is denominated, not which one is gaining: over the past 12 months CHF moved +0.8% against NZD, so on momentum the two are roughly level.
Adjusted for consumer-price inflation in both economies, CHF gained 2.9% in real terms against NZD over the same period.
CHF relative to NZD
Positive values mean CHF strengthened against NZD.
CHF vs NZD over the last three years
CHF against NZD, index 100 on November 6, 2023. A rising line means CHF 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: 119.6 on November 14, 2025, when CHF was at its strongest against NZD in the period.
- 3-year low: 95.5 on May 27, 2024.
- Now: 118.1, 1.2% below the high and 23.7% above the low.
- Sharpest one-month move: CHF rose 9.5% against NZD between March 18, 2025 and April 9, 2025, around the time of “Franc surges on tariff safe-haven flows” (🇨🇭 April 2, 2025).
What moved CHF and NZD
- · 🇳🇿 RBNZ hikes OCR to 2.50% — New Zealand's central bank raises rates again to bring inflation back to target
- · 🇳🇿 RBNZ cuts to 2.25%, signals end — RBNZ cuts to a three-year low while signaling its easing cycle is complete
- · 🇨🇭 US-Switzerland cut tariff to 15% — A new framework deal cuts the US tariff on Swiss goods from 39% to 15%
- · 🇨🇭 US imposes 39% tariff on Switzerland — A 39% US tariff takes effect on Swiss goods, the highest rate on any developed economy
- · 🇨🇭 SNB cuts policy rate to zero — Swiss National Bank cuts to 0.00%, its sixth straight reduction, amid very low inflation
- · 🇳🇿 RBNZ starts cutting — RBNZ begins easing cycle, cuts from 5.50% peak
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 |
|---|---|---|
| 🇨🇭 Swiss Franc (CHF) | -0.4% | #8 of 16 |
| 🇳🇿 New Zealand Dollar (NZD) | -1.2% | #9 of 16 |
Open the interactive CHF/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 CHF'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 CHF stronger than NZD right now?
It depends on the question. Per unit, 1 CHF = 2.2029 NZD (reference rate, November 6, 2026), so the Swiss Franc is worth more. As for which one is gaining, over the past 12 months CHF moved +0.8% against NZD, so on momentum the two are roughly level.
How do CHF and NZD perform against other major currencies?
Against a basket of 15 major currencies over the past 12 months, CHF ranks #8 of 16 (-0.4%) while NZD ranks #9 (-1.2%).
What does the CHF 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.