Expedia® Foreign Exchange Index – April 2011

On April 20, 2011 at 10:00 AM

Latest Expedia HiFX Foreign Exchange Index reveals top destinations for travellers on the New Zealand Dollar

As the New Zealand Dollar performs solidly against a number of major currencies, including the US Dollar, now is a good time for Kiwis to dust off the passport and head overseas. To find out where Kiwi travellers get the best bang for their travel buck, online travel company Expedia.co.nz, in conjunction with foreign exchange specialist HiFX, has released its latest Expedia HiFX Foreign Exchange Index.

Argentina is currently the best-value destination for Kiwi travellers, with the New Zealand Dollar appreciating by over 15% against the Argentinean Peso in the past 12 months. Turkey and Hong Kong rounded out the top three, with the New Zealand Dollar appreciating by more than 9% against the Turkish Lira and by just over 8% against the Hong Kong Dollar.

The twice-yearly index analyses currency fluctuations against the New Zealand Dollar to find the top 10 best-value destinations for Kiwi travellers.

The latest Expedia HiFX Foreign Exchange Index is in stark contrast to the previous update in October 2010, which was dominated by European nations, featuring eight out of the top 10 destinations offering the best value against the New Zealand Dollar. The latest Index+

has revealed a new breed of value-for-money destinations with nine new additions to the list, including Argentina (+15%), Turkey (+9%), Hong Kong (+8%), India (+7%), the USA (+7%), Poland (+6%), Russia (+4%), the Philippines (3+%) and Canada (+3%), which all made the list for the very first time.

Although the New Zealand Dollar has hit recent highs against the ‘Greenback’, the USA ranked only as the fifth best value destination for Kiwi travellers. However, as the New Zealand Dollar continues to climb against the US Dollar, the USA provides good value for money. Expedia.co.nz booking and search data reveals that hot spots such as New York, Las Vegas and Los Angeles are becoming increasingly popular destinations for New Zealand travellers.

Despite not making the top 10 list, many countries in the Eurozone still provide good value for money, with the New Zealand Dollar appreciating in the past 12 months against the Danish Krone, Latvian Lan, the Euro, Hungarian Forint and the British Pound.

Louise Crompton, Senior Manager Marketing for Expedia Australia and New Zealand, says that the relative strength of the New Zealand Dollar against other currencies is good news for travellers. “The strength of the New Zealand Dollar against quite a few of the world’s currencies, not least the US Dollar, provides Kiwi travellers an great opportunity to head overseas and make use of the favourable exchange rates and cheap deals. Also, by charging no fees on flights, Expedia.co.nz customers can make their travel budget stretch even further. Every dollar counts!” said Ms Crompton.

Brian Clarke, FX Dealer at HiFX, comments: “The Kiwi Dollar has recovered strongly since the interest rate cut in early March. Rising commodity prices combined with increased appetite for risk on global markets has seen significant gains for the New Zealand Dollar. This is especially the case against the US Dollar where a broad-based weakening of the US Dollar has seen the New Zealand Dollar gain 9% in the last month alone, making overseas trips even more affordable”.


Best-value destinations based on how the New Zealand Dollar (NZD) has performed against major currencies in the past 12 months*




AUD Percentage Gain



Argentina (Peso)




Turkey (Lira)




Hong Kong (Dollar)




India (Rupee)




United States (Dollar)




Poland (Zloty)




Croatia (Kuna)




Russia (Ruble)




Philippines (Peso)




Canada (Dollar)



Source: HiFX (www.hifx.co.nz)*30/03/2010 – 30/03/2011

+ Prices reflect a year on year comparison between 30/03/2010 – 30/03/20.

To find more news releases, please visit the Expedia New Zealand press room at http://press.expedia.co.nz/

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