Economy

Grounded kiwi not pushing up prices at Briscoes

Ella Somers
Wed, 02 Feb 2022

Trainee reporter
funded through

Briscoes has sailed through the pandemic. (Image: Deposit Photos)

Ella Somers
Wed, 02 Feb 2022

A weak kiwi dollar may be making it more expensive to import goods, but don’t expect to see an end to the weekly sales at Briscoes or Rebel Sports any time soon.That’s because Briscoe Group got in last year, “aggressively” buying US dollars when the kiwi dollar was trading at 67 US cents and higher – the currency recently traded at 66.38 cents, having hit a 17-month low at 65.34 cents last week.Bank economists expect the kiwi will remain under pressure in the coming months as rising interest rates in the US provide...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News via email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets FREE

Auckland Airport’s outlook drags down shares

Ella Somers | Thu, 18 Aug 2022

Auckland Airport reported a profit of $191.6 million today and has hopes the next financial year will be more positive than the last two.

Primary Sector

NZ trawling innovation going global

Rebecca Howard | Thu, 18 Aug 2022

Government funding will be used to help commercialise a harvesting system developed through a previous Primary Growth Partnership programme called Precision Seafood Harvesting.

Property

Consent refused for Thiel's luxury lodge

Brent Melville | Thu, 18 Aug 2022

It'll be back to the drawing board for the tech billionaire's NZ team, after their consent application was turned down by hearing commissioners.

Grounded kiwi not pushing up prices at Briscoes

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team