$Aust dives
PA Wellington The Australian dollar was the main mover on the foreignexchange market in Wellington yesterday. It plunged from its JU50.7820 opening to a low of JU50.7630. It closed at 0.7705/ 10. Dealers said that the reasons the Australian unit fell included lower interest rates and a narrowing of the differential between United States and Australian rates. The New Zealand dollar continued to set record lows against the United States dollar but made up ground against the Australian unit. The local dollar plunged below $U50.4600 for the first time, sinking to $U50.4592/95 before recovering to $U50.4605/08 at the close. The Reserve Bank indicative mid-rate closed 14 points down from its opening at $U50.4603.
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Press, 8 February 1985, Page 8
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115$Aust dives Press, 8 February 1985, Page 8
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