Reserve Bank vigilant as NZ dollar dips to nine-month low

(Image: Getty)

Wed, 23 Aug 2023

The Reserve Bank of New Zealand is keeping a watchful eye on the kiwi dollar, which hit a fresh nine-month low this week. Paul Conway, chief economist at the Reserve Bank of NZ (RBNZ), told BusinessDesk: “It’s definitely something that we are mindful of going forward."The kiwi briefly touched US$0.58 (NZ$0.99) overnight Monday before moving back to just above US$0.59.The NZ dollar has lost 7% against the greenback since the beginning of 2023. This week’s move came on the back of rising treasury yields and more n...

Unlock all stories free for 10 days

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

We won’t charge for 10 days. 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].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

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 }}

The Quiz Free

QuiznessDesk: Thursday, July 04

Test your smarts against our Quizmaster.

The Quizmaster 9:15am

Markets

Aussie shares rise for first time in new financial year

The ASX200 finished up 0.3% after better-than-expected domestic retail sales data.

AAP 7:45am

Aussie shares rise for first time in new financial year

Primary Sector

Reducing farm emissions is about future proofing: Nestlé

Dairy makes up 21% of Nestlé's scope 3 or 'on farm' emissions.

Rebecca Howard 5:00am

Reducing farm emissions is about future proofing: Nestlé

Sponsored

Smart chargers don't just charge EVs

They also take the pressure off a stressed power network - We.EV

We.EV

Sponsored

Big change coming to insurance

Industry reset sees risk-based pricing coming for many homeowners.

VERO

More Economy

Economy

Auckland tumbles, Southland on top in ASB regional scoreboard

Auckland has fallen to 5th place.

Tom Raynel 03 Jul 2024

Economy

Business gloom offers inflation hope

The New Zealand Institute of Economic Research’s (NZIER) Quarterly Survey of Business Opinion shows a continued deterioration in business confidence in the second quarter.A net 35% of firms expected a deterioration in the general economic outlook over the coming months on a seaso...

Staff reporters 02 Jul 2024