NZ dollar flying high

NZ dollar flying high
The weaker greenback is giving the kiwi wings. (Image: Getty)
Rebecca Howard
The New Zealand dollar has shot up more than 10% against the US dollar over the past month, giving importers some relief. It last traded at 61.64 US (NZ$1) cents versus 55.76 US cents a month ago, a 10.6% gain. The move puts it back up at levels last seen in August. There are a range of factors at play. “These include the weaker USD [US dollar] backdrop, increased hope of a gradual easing of China’s zero-covid policy and domestic factors such as a more hawkish Reserve Bank policy update at the October monetary policy...

More Economy

Trade data shows imports down, exports up in November
Economy

Trade data shows imports down, exports up in November

The latest trade data follow Thursday's dire GDP result.

Staff reporters 20 Dec 2024
GDP plunge may spur speculation about a 75bps cut
Economy

GDP plunge may spur speculation about a 75bps cut

The past two quarters mark the weakest six months since June 1991. 

Rebecca Howard 19 Dec 2024
Massive GDP fall: NZ in deep recession
Economy

Massive GDP fall: NZ in deep recession

New Zealand’s gross domestic product fell 1.0% in the September 2024 quarter.The massive fall came after a revised 1.1% decrease in the June 2024 quarter, according to figures released by Stats NZ on Thursday.“The structure of the New Zealand economy can change quickly, which is...

Staff reporters 19 Dec 2024