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The economic history of New Zealand dates to before European colonisation of the country. By the 20th century, it had become one of the most globalized economies in the world, relying heavily on international trade with developed countries including Australia, Canada, China, European Union, the United States, Japan, and South Korea.
Labour remained in power after the Second World War and in 1945, Labour Prime Minister Peter Fraser played an important role in the establishment of the United Nations, of which New Zealand was a founding member. [152] However, domestically Labour had lost the reforming zeal of the 1930s and its electoral support ebbed after the war.
On 27 January 2022, New Zealand's inflation rate hit a 30-year record high of 5.9% at the end of 2021. According to figures released by Statistics New Zealand, the rising cost of construction, petrol and rents pushed the consumer price index up 1.4 per cent between October and December 2021.
The New Zealand dollar contributes greatly to the total global exchange market—far in excess of New Zealand's relative share of population or global GDP. According to the Bank for International Settlements , the New Zealand dollar's share of global foreign exchange market daily turnover in 2016 was 2.1% (up from 1.6% in 2010) giving it a rank ...
v. t. e. This is a list of countries by their exchange rate regime. [1] De facto exchange-rate arrangements in 2022 as classified by the International Monetary Fund. Floating (floating and free floating) Soft pegs (conventional peg, stabilized arrangement, crawling peg, crawl-like arrangement, pegged exchange rate within horizontal bands) Hard ...
For example, in a conversion from EUR to AUD, EUR is the fixed currency, AUD is the variable currency and the exchange rate indicates how many Australian dollars would be paid or received for 1 euro. In some areas of Europe and in the retail market in the United Kingdom , EUR and GBP are reversed so that GBP is quoted as the fixed currency to ...