NZ dollar drops below US63c for first time in four years

NZ dollar drops below US63c for first time in four years
Paul McBeth
By Paul McBeth Aug. 30 (BusinessDesk) - The New Zealand dollar dropped below 63 US cents for the first time in almost four years as investors remain nervous that the US-China trade war and a slowing domestic economy will push interest rates lower.  The kiwi fell to 62.98 US cents at 5pm in Wellington from 63.12 cents at 8am and 63.05 cents yesterday. The trade-weighted index was at 70.46 from 70.55 at 8am.  The local currency dropped to a fresh four-year low yesterday as deteriorating expectations among businesses about their own activ...

More Markets

NZ sharemarket ends week down 0.8%
Markets Market Close

NZ sharemarket ends week down 0.8%

The S&P/NZX 50 Index closed at 13,024.7, down 35.38 points or 0.27%.

Graham Skellern 24 Jan 2025
Being AI vs Clare Capital: $150k settlement reached
Markets

Being AI vs Clare Capital: $150k settlement reached

Being AI filed defamation proceedings against Clare Capital and its directors in April.

John Anthony 24 Jan 2025
Akaroa King Salmon boss steps down after 23 years
Primary Sector

Akaroa King Salmon boss steps down after 23 years

Scotsman Stewart Hawthorn takes over from Duncan Bates as Akaroa King Salmon CEO.

John Anthony 24 Jan 2025
Blair Turnbull named CEO of Milford Asset Management
Markets

Blair Turnbull named CEO of Milford Asset Management

Blair Turnbull is set to take the helm as chief executive of Milford Asset Management from March 12.Turnbull, currently CEO of Tower, replaces Mark Ryland. “As we welcome Blair to Milford, we extend our appreciation to Mark Ryland, who will step down as CEO on Blair’s commencemen...

Staff reporters 24 Jan 2025