NZ dollar recovers as China lifts requirements on foreign deposit holdings

Mon, 18 Jan 2016

By Paul McBeth Jan. 18 (BusinessDesk) - The New Zealand dollar recovered its losses from the weekend as Chinese authorities raised the requirements on foreign financial institutions' yuan deposits, helping soothe nervous investors about the strength of the world's second-biggest economy. The kiwi rose to 64.67 US cents at 5pm in Wellington from 64.20 cents at 8am, and was little changed from 64.62 cents on Friday in New York. The trade-weighted index gained to 71.53 from 71.13. The People's Bank of China said it will impose reserve-r...

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