No New Zealand bank forecasts the NZ dollar against the Philippine peso, so this page shows no forecast. On 11 Nov 2026 one NZ dollar bought ₱35.32 on the ECB reference rate, 58% of the way up its 52-week range of ₱32.99–₱37.01. The banks do forecast NZD/USD, and the peso is priced against the US dollar.
Where the forecast gap is
ANZ, ASB, BNZ and Westpac publish NZ dollar forecasts against the US dollar, Australian dollar, euro and pound; ANZ, ASB and BNZ also cover the yen, and ANZ and ASB the Chinese yuan. The peso isn't on any of their lists. An "NZD to PHP prediction" elsewhere online comes from someone's own model, and those pages rarely name the model or date it.
12 months of ECB reference rates
Forecast calculator
Type an amount to see it at today's mid-market rate and at each bank's published forecast. It shows what the banks expect. It isn't a quote or advice.
Rates: ECB reference rates converted to NZD, 11 Nov 2026. Forecasts: end-of-period levels from each bank's note, dated. A bank or transfer service will give you less than the mid-market rate.
No NZ bank we track publishes a forecast for this pair, so there is nothing to compare against. We don't make one up.
Compare every bank's callHalf of the cross
The peso trades mainly against the US dollar, so the NZD/USD forecasts below cover one of the two legs. We don't turn them into peso figures: that would take a peso forecast, and no bank we track publishes one.
| Bank · published | Today (ECB) | Dec 2026 | Mar 2027 | Dec 2027 |
|---|---|---|---|---|
| BNZ9 Nov 2026 | 0.5584 | 0.58 | 0.58 | 0.59 |
| Westpac19 Oct 2026 | 0.5584 | 0.56 | 0.58 | 0.64 |
| ASBOctober 2026 | 0.5584 | 0.57 | 0.56 | 0.59 |
| ANZ18 Sep 2026 | 0.5584 | 0.58 | 0.58 | 0.60 |
Sources: BNZ Markets Outlook, 9 November 2026 (Quarterly Forecasts table); Westpac NZ Weekly Commentary, 19 October 2026 (Economic and financial forecasts table); ASB Economic Forecast Update, October 2026 (FX forecasts by CBA's FX strategists, last updated August 2026); ANZ NZ Latest forecasts (spreadsheet). NZD/USD forecast · every bank's full table.
The next big moment
The Reserve Bank of New Zealand reviews the Official Cash Rate (OCR) alongside its Monetary Policy Statement. OCR decisions often move the NZ dollar on the day. Source: Westpac NZ Weekly Commentary, 19 Oct 2026 (calendar).
OCR dates and bank callsWhat drives the cross
Each driver acts on the NZ dollar or the peso against the US dollar. Philippine figures are from the BSP Selected Economic and Financial Indicators, 6 Nov 2026. NZD/INR · All bank forecasts
The Bangko Sentral ng Pilipinas (BSP) put its target reverse repurchase rate up 50 basis points, to 5.50%, on 22 October 2026, effective the next day. Higher Philippine rates make peso assets pay more, which tends to support the peso and means fewer pesos per NZ dollar, other things equal.
The peso averaged ₱60.85 per US dollar in 2026 up to the BSP's 6 November update, against ₱57.23 over the same months of 2025. That is a 5.9% fall in the peso's value. Philippine headline inflation averaged 5.6% so far in 2026, up from 1.7% across 2025.
Money sent home by Filipinos abroad is a steady source of US dollars for the Philippines. Personal remittances reached US$39.6 billion in 2025 (preliminary BSP figure), 3.3% more than in 2024. Those inflows tend to support the peso, though they change slowly from year to year.
The Philippines runs a large goods trade deficit: US$47.2 billion so far in 2026 on BSP figures, with goods imports up 20.3%. Higher fuel and import bills mean more pesos sold for US dollars. On the NZ side, dairy and food export prices matter most for the NZ dollar, and the RBNZ's OCR is 2.75% with the next decision on 9 December 2026.
This page explains what moves the rate. It isn't advice on when to send money to the Philippines, and a bank or transfer service will give you less than the mid-market rate shown here. For fees, see sending money from NZ to the Philippines.
FAQ
Straight answers, with the source and date for every figure.
No New Zealand bank publishes an NZD/PHP forecast, and we don't build one. Westpac (9 Nov 2026) and ANZ (19 Oct 2026) forecast NZD/USD at 0.59 and 0.64 by December 2027, above today's 0.5584. How much of that reaches NZD/PHP depends on what the peso does against the US dollar.
The NZ dollar's rate against the US dollar, and the peso's rate against the US dollar. The RBNZ's Official Cash Rate, the Bangko Sentral ng Pilipinas policy rate, Philippine inflation, oil prices and remittance flows from Filipinos working overseas all feed into one leg or the other.
On 11 Nov 2026 one NZ dollar bought ₱35.32 on the ECB reference rate. On 11 Nov 2025 it bought ₱33.33, so the rate has moved +6.0% in 12 months. The 12-month high was ₱37.01 on 28 Aug 2026.