Devaluation
The New Zealand dollar was devalued by a small amount again this month, the Reserve Bank announced. The devaluation was equal to 0.7 per cent of the dollar’s value at the end of June, 1979, when the current system of flexible exchange rates was established. All told the dollar has been devalued by 10.6 per cent since that date. .
Last month (April) was the first month since June, 1979, that the New Zealand dollar was not devalued by the Reserve Bank. This month’s mini-devaluation returns to the previous pattern of small devaluations each month.
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Bibliographic details
Press, 1 June 1981, Page 8
Word Count
95Devaluation Press, 1 June 1981, Page 8
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Acknowledgements
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