NZ dollar rises on US dollar weakness

Fri, 31 Jul 2020

The New Zealand dollar resumed its upward march after data showed the US economy contracted an annualised 32.9 percent in the June quarter and the US dollar fell to its lowest level since May 2018 against a basket of major currencies. The kiwi was trading at 67.05 US cents at 5pm in Wellington from 66.44 cents at the same time yesterday and well up on last week's close in New York at 65.79 cents. The trade-weighted index was at 72.57 from 72.23. "It's just a continuation of a weak US dollar – all the major currencies gained overnight and...

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.

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 }}

My Net Worth

My Net Worth: Patrick Gamble, CEO Perpetual Guardian

“If you stand still, you don't do very well.”

Jacques Steenkamp 01 Jun 2025

On the Money

On the Money: Hawkesby, Paris, Mowbray, Peters, and more

Christian Hawkesby plays coy with the top job while AI threatens all the other jobs.

Dileepa Fonseka 31 May 2025

On the Money: Hawkesby, Paris, Mowbray, Peters, and more

Environment

UN warns warming could top 1.5C in next 4 years

"We have just experienced the 10 warmest years on record."

AFP 31 May 2025

UN warns warming could top 1.5C in next 4 years

Sponsored

Tired of missing out on getting to global summits to help grow your business?

Airwallex is offering a grant for NZ businesses to join the action.

Airwallex

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

More Markets

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

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