Reserve Bank sells net $256 mln in April, Wheeler prepared to ‘scale up’ intervention

Thu, 30 May 2013

By Paul McBeth May 30 (BusinessDesk) - The Reserve Bank sold a net $256 million into foreign exchange markets last month as it looked to trim the kiwi dollar’s high points in April, and its governor Graeme Wheeler is willing to ramp up his currency intervention as long as it works. The bank reduced its foreign currency intervention capacity to $8.48 billion in April from $8.7 billion a month earlier, RBNZ figures show. That adds to a net sale of $199 million of New Zealand dollars in December and $64 million in November. The release comes...

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