Kiwibank expects NZ dollar to weaken through 2023

The kiwi has been on an upward swing but not everyone expects it to last. (Photo: Getty)

Fri, 23 Dec 2022

Economists at Kiwibank are expecting the New Zealand dollar to decline during 2023 as the global recession keeps investors glued to safe-haven currencies.The kiwi dollar had a difficult year in 2022 as economic uncertainty and falling asset prices made anything deemed ‘risky’ unattractive. It was down roughly 18% at 55.5 US cents in October, on recession fears, but had since regained some strength and was trading at 63.27c on Wednesday afternoon.Kiwibank’s research team said this boost was due to global central banks tig...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

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

Repeat password {{ registerForm.errors.get('password_confirmation') }}

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.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

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 }}

World

'Quite sad': Renters turn to lottery in Spain's housing crisis

44,000 applicants for Madrid apartments, only 64 winners.

Agence France-Presse 5:00am

On the Money

On The Money: Shihad, woke, and more...

No prizes for guessing which investment summit attendee is a Shihad fan.

Dileepa Fonseka 5:00am

Energy

Controversial pipeline reveals state of global fight over oil

What are the consequences of leaving an African nation’s oil in the ground?

The Washington Post 5:00am

Controversial pipeline reveals state of global fight over oil

Sponsored

The new face of luxury Scotch: Harrison Ford, the Traitors castle and an E-Type Jag

Harrison Ford’s Glenmorangie campaign breaks all the rules.

Glenmorangie Whiskey

Sponsored

Mastering market swings

ETFs can be a "smart" way to build a long-term, diverse portfolio.

Smart

More Economy

Economy

Spending up 3.7% in year, Westpac data says

Westpac’s senior economist, Satish Ranchhod, says spending is "starting to pick up again" after the bank’s data showed a 3.7% annual rise in spending on Westpac-issued credit and debit cards. Westpac's Retail Spending Pulse, released on Friday, showed the upward shift was hel...

Staff reporters 14 Mar 2025