NZ dollar rises as terms of trade hold at 40-year high

Mon, 01 Sep 2014

By Paul McBeth Sept. 1 (BusinessDesk) - The New Zealand dollar edged up after government figures showed the nation's terms of trade stayed at a 40-year high in the second quarter as a stronger currency provided cheaper imports and offset the impact of falling commodity prices. The kiwi rose to 83.73 US cents at 5pm in Wellington from 83.58 cents at 8am and 83.59 cents on Friday in New York. The trade-weighted index increased to 79.09 from 78.96 last week. New Zealand's terms of trade, which measures the quantity of imports the country...

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