NZ dollar drops below US68c on plan to up bank capital

Fri, 14 Dec 2018

By Paul McBeth Dec. 14 (BusinessDesk) - The New Zealand dollar fell below 68 US cents for the first time in two weeks after the Reserve Bank outlined plans for lenders to hold greater capital reserves, which would likely boost borrowing costs and slow the economy. The kiwi dropped to 67.96 US cents as at 5pm in Wellington from 68.57 cents immediately before the release and 68.56 cents yesterday. The trade-weighted index was at 74.31 from 74.82 yesterday. The local currency is heading for a 1 percent weekly decline against the greenba...

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