NZ dollar gains as local card spending rises at fastest recorded pace

Mon, 11 Nov 2013

By Paul McBeth Nov. 11 (BusinessDesk) - The New Zealand dollar gained after the fastest recorded increase in card spending on core retail industries fuelled optimism about the local economy. The kiwi rose to 82.81 US cents at 5pm in Wellington from 82.34 cents at 8am and 82.40 cents on Friday in New York. The trade-weighted index slipped to 77.41 from 77.53 on Friday in New York. New Zealanders lifted their electronic card spending on core retail industries by 1.8 percent in October, the fastest pace since October 2002 when the series beg...

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