$NZ devaluation
The international value of the New Zealand dollar fell about 0.6 per cent last month. Since June, 1979, when the present system of floating exchange rate was adopted, the total devaluation of the dollar amounts to 16.4 per cent. The Reserve Bank announced yesterday that the
level of the Reserve Bank exchange rate index stood at 83.6 at the end of May. The index, which measures the value of the New Zealand dollar in terms of a basket of currencies of New Zealand’s main trading partners, has a base of 100.0 at the end of June, 1979. The index stood at 84.1 at the end of April.
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Press, 2 June 1982, Page 27
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109$NZ devaluation Press, 2 June 1982, Page 27
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