RBNZ sees stronger kiwi dollar for longer

Wed, 12 Mar 2014

By Paul McBeth March 13 (BusinessDesk) - The New Zealand dollar will stay at an elevated level for longer than previously thought as the local economic story finds favour with foreign investors, according to the Reserve Bank. The trade-weighted index, a measure of the kiwi against a basket of five currencies, averaged 78.18 in the March quarter, ahead of the Reserve Bank’s December projection of 77.4 in the period, as the prospect of rising interest rates and accelerating economic momentum fuel demand for the New Zealand dollar. The bank n...

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