Dollar to $SUS0.53
PA Wellington The Reserve Bank indicative dollar exchange rate index closed at another record post-devaluation peak on the foreign exchange market yesterday as the New Zealand dollar was bid up to exceed the SUSO.S3 level.
The index, which measures the currency against those of New Zealand’s main trading partners, was at 69.1 at 3 p.m. eclipsing the previous level on Wednesday by 0.1 points. Dealers said firming domestic interest rates prompted overseas investors to take the New Zealand dollar up to the day’s peak of $U50.5300/10 at close, after opening at 5U50.5260/70. The rate for 90-day com-
mercial bills went up to 26.15 per cent, compared with 25.7 per cent yesterday.
Yesterday the Kiwi dollar was worth 52.6 c U.S., 74.9 c Aust., 39.3 p, 125.6 yen and 1.49 marks. The Australian dollar finished at $U50.7033/40 against 5U50.7016/26 in the morning. The United States dollar closed stronger at 2.8505/15 marks, compared with its 2.8495/10 local opening and 2.8490/05 close in New York. Sterling closed at JU51.3365/75, compared with its $U51.3375/85 local opening and $U51.3370/80 close in New York.
The yen finished at 238.65/75,’ compared with 238.70/85 and 2.3865/75, respectively.
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Press, 9 August 1985, Page 8
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192Dollar to $SUS0.53 Press, 9 August 1985, Page 8
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