NZ dollar extends slide, 10-year swap rate hits record low, on weak oil, falling equities

Wed, 24 Feb 2016

By Jonathan Underhill Feb. 24 (BusinessDesk) - The New Zealand dollar extended its slide and the 10-year swap rate dropped to a record low as crude oil continued falling, stock markets weakened and US Treasury yields declined. The kiwi dropped to 66.12 US cents at 5pm in Wellington from 66.98 cents at 5pm yesterday. The trade-weighted index declined to 72.01 from 72.71 yesterday. Brent crude fell to US$32.80 a barrel in Asia from US$33.27 yesterday and down from US$61.63 a year ago after Saudi Arabia’s oil minister Ali al-Naimi said th...

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