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

Former Telecom chair Wayne Boyd honoured
Finance

Former Telecom chair Wayne Boyd honoured

Honours recognition for a lifetime of low-key, high-quality leadership.

Lower bond yields lift NZ sharemarket
Markets Market Close

Lower bond yields lift NZ sharemarket

Lower bond yields have helped drive the NZ sharemarket sharply higher at the close.

Jamie Gray 30 May 2025
Turbulent market slashes 2 Cheap Cars' profit
Markets

Turbulent market slashes 2 Cheap Cars' profit

New Zealand’s continued economic downturn, a sharp fall in immigration and consequent softer market demand has driven a 47% drop in profit for 2 Cheap Cars.The company reported total revenue of $81.9 million with 7675 cars sold in the year to March 31, down 6% compared to $86.7m...

Staff reporters 30 May 2025
Pacific Edge launches $20m capital raise
Markets

Pacific Edge launches $20m capital raise

The raise will help the medtech company continue operations for another year.

Staff reporters 30 May 2025