NZ dollar rises as commodity currencies buoyed by oil price gain

Wed, 17 Feb 2016

By Tina Morrison Feb. 18 (BusinessDesk) - The New Zealand dollar gained as an increase in oil prices lifted commodity linked currencies. The kiwi rose to 66.33 US cents at 8am in Wellington, from 65.58 cents at 5pm yesterday. The trade-weighted index advanced to 72.10 from 71.47 yesterday. The CRB Index, which measures a basket of 19 global commodities, touched its highest in almost two weeks after oil prices jumped. Optimism about the outlook for oil lifted after Iran Oil Minister Bijan Namdar Zanganeh said the country backs any measu...

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