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...

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