Kiwi below 78 US cents as RBNZ figures show intervention

Mon, 29 Sep 2014

By Paul McBeth Sept. 29 (BusinessDesk) - The New Zealand dollar fell below 78 US cents for the first time in more than a year after the Reserve Bank published figures showing it intervened in foreign exchange markets in August. The kiwi dropped to 77.64 US cents, the lowest level since Aug. 30 last year, after data showed the central bank sold a net $521 million into currency markets in August, confirming speculation based on jaw-boning rhetoric from the bank's governor, Graeme Wheeler, that it had been active in the market that month. Th...

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