NZ dollar falls as investors flee to safety over pandemic fears

NZ dollar falls as investors flee to safety over pandemic fears
Jenny Ruth
The New Zealand dollar fell as foreign investors cash in their holdings in a flight to safety amid the worsening coronavirus crisis. The kiwi was trading at 59.60 US cents at 5pm in Wellington, off the day's low at 59.13 - its lowest since May 2009 - and down from 60.50 at the same time yesterday. The trade-weighted index was at 68.21 points from 68.84. "People are repatriating offshore investments back to the US. That's what's going on. We're just seeing holus-bolus getting out of everything," said Tim Kelleher, head of foreign exchange...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024