NZ dollar falls as oil prices drop to 12-year low, Chinese stocks decline

Thu, 14 Jan 2016

By Paul McBeth Jan. 14 (BusinessDesk) - The New Zealand dollar dropped as oil prices fell to a 12-year low and Chinese stock markets opened lower, spooking investors out of risk-sensitive assets such as the kiwi and the Australian dollar. The local currency fell to 64.85 US cents at 5pm in Wellington from 65.22 cents at 8am and 65.61 cents yesterday. The trade-weighted index declined to 71.64 from 72.28 yesterday. Brent crude oil fell below US$30 for the first time in 12 years on the expectation the resumption of Iranian exports will...

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