The Kiwis may not be feeling the implications yet, but expatriates in the cities of Wellington and Auckland could not miss the effects of the rising NZ dollar.

The Dominion Post reported the Economist Intelligence Unit's (EIU) latest Worldwide Cost of Living survey, in which Auckland is ranked 15th among the costliest cities in the world. The new record sees Auckland jumping nine places higher, while Wellington rose 16 places to rank 17th with London.

EIU looked into 130 cities worldwide using a weighted average of the prices of 160 products and services to compare the cities' cost of living.

Local residents are gaining from the strengthening of the New Zealand dollar, but the expatriates are paying quite a price for living in two of the most liveable cities in the world.

Auckland ranked third, while Wellington placed 13th in the Mercer 2011 Quality of Living Survey of the most liveable cities in the world.

EIU editor Jon Copestake told Dominion Post the cost of living in Auckland and Wellington had doubled for expatriates in the past decade.

The 10 most expensive cities are:

1. Zurich (Switzerland)

2. Tokyo (Japan)

3. Geneva (Switzerland)

4. Osaka Kobe (Japan)

5. Oslo (Norway)

6. Paris (France)

7. Sydney (Australia)

8. Melbourne (Australia)

9. Singapore

10. Frankfurt (Germany)

The 10 least expensive cities are:

1. Muscat (Oman)

2. Dhaka (Bangladesh)

3. Algiers (Algeria)

4. Kathmandu (Nepal)

5. Panama City (Panama)

6. Jeddah (Saudi Arabia)

7. New Delhi (India)

8. Tehran (Iran)

9. Mumbai (India)

10. Karachi (Pakistan)

Source: Economist Intelligence Unit