NZ dollar flies through wild swings on US rescue package negotiations

Thu, 26 Mar 2020

The New Zealand dollar was little changed after wild swings amid the negotiations in the US congress over that nation's US$2 trillion rescue package. The kiwi was trading at 58.33 US cents at 5pm in Wellington from 58.39 at the same time yesterday, but had traded as high as 59.13 at about 2pm and as low as 57.78 in the wee hours of the morning as share markets in Europe surged. The trade-weighted index was at 67.68 from 67.63. "It has been a bit of a roller coaster," said Hamish Pepper, fixed income and currency strategist at Harbour A...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Technology

Lift-off: Victoria University’s Mission Hēki goes into orbit

The SpaceX rocket had a flawless launch from Cape Canaveral.

Greg Hurrell 5:00am

Policy

Auckland housing project withdrawn from fast-track

The developer plans to lodge a fresh application after draft decline.

Oliver Lewis 5:00am

Auckland housing project withdrawn from fast-track

Law & Regulation

Agribusiness NCEA removal will 'impact economy'

Meanwhile, accountants are pleased at the reinstatement of the subject at Level 1.

Chido Machingura 5:00am

Agribusiness NCEA removal will 'impact economy'

Sponsored

Future leaders start by Dreaming Big

How OnBeingBold empowers Year 13 girls at free leadership events.

OnBeingBold

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

More Markets

Finance

‘Unusual’ volume of CCCFA changes in focus

Select committee mulls proposed changes to CCCFA, to report recommendations Oct 20.

Andy Macdonald 5:00am

Markets

F&P Healthcare urges Govt to shut patent loophole

The company says the current patent loophole threatens its NZ operations.

Michael Neilson 5:00am

Markets Market Close

NZX 50 dips despite Fletcher Building's 4.6% gain

Pacific Edge shares gained after it said it got a step closer to Medicare approval.

Gregor Thompson 15 Sep 2025

Markets

ANZ agrees to record A$240m fine for widespread misconduct

ANZ has agreed to pay the largest penalty its Australian regulator has ever issued an entity in one go, due to failings in the bank’s dealings with both the Government and its retail customers.ANZ and the Australian Securities and Investments Commission (ASIC) will ask the Federa...

Staff reporters 15 Sep 2025

NZ dollar flies through wild swings on US rescue package negotiations

More Markets

Your company has a subscription

Team