NZ dollar drops to 5-month low against greenback

Thu, 24 Nov 2016

By Edwin Mitson Nov. 24 (BusinessDesk) - The New Zealand dollar fell to a five-month low against the US dollar as the greenback continues to surge on expectations of higher interest rates and inflation in the world's largest economy. The kiwi dollar fell to 69.80 cents at 5pm in Wellington from 70.05 cents at 8am this morning and 70.62 US cents at the same time yesterday. It last traded at these levels in early June 2016. The trade-weighted index fell to 77.15 from 77.68. The New Zealand dollar has now fallen 5.5 percent since Nov 8, whe...

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