Economy

Grounded kiwi not pushing up prices at Briscoes

Ella Somers
Wed, 02 Feb 2022

Trainee reporter
funded through
Grounded kiwi not pushing up prices at Briscoes
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...

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