NZ Dollar continues to battle global elements

NEW ZEALAND DOLLAR REVIEW | Kiwi falls as more turmoil in Europe affected currencies worldwide




THE Kiwi Dollar continues to slide against the greenback and the euro as European finance ministers prepare to meet in Luxembourg this week amid speculation Spain is struggling to avoid a bailout account. The US Dollar rose to 0.8202 to the Kiwi Dollar.

The Kiwi Dollar recovered against the Australian Dollar on Thursday and then continued its fall against the US dollar on Friday as more turmoil in Europe affected currencies worldwide.

There was continued speculation that Spain would seek a bailout after its credit rating was downgraded and increased demand at an Italian bond sale spurred bets the region’s debt crisis is easing. This helped the Euro strengthen against the New Zealand Dollar.

This week will see inflation figures released which are expected to confirm that there is little pressure on the Reserve Bank to raise interest rates in the short term and signs that growth in China, the world’s second largest economy, is slowing.

GBP/NZD: 1.9675
EURO/NZD: 1.5861
USD/NZD: 1.2242
NZD/ JPY: 64.0499

Exchange rates on 15 October 2012

Composed by Trevor Brewer of 1st Contact :: Note: The above exchange rates are based on “interbank” rates.  If you want to transfer money to New Zealand then please register/login or call us for a live dealing rate. Make use of a Rate Notifier to send you alerts when the New Zealand exchange rate reaches levels you are looking for.