Dollar slightly firmer
PA Wellington The New Zealand dollar firmed yesterday to a late trading level of $U50.5283/ 93 from its $U50.5250/60 opening. Yesterday the dollar was worth 52.8 c U.S., 75.3 c Aust., 39.5 p, 127.8 yen and 1.53 marks.
The trade-weighted Reserve Bank exchange rate index closed at 70.0, compared with 69.8 at 1 p.'m., 69.4 four weeks ago and 62.7 before the float. The Australian dollar was almost unchanged at $U50.6815/22, compared with $U50.6816/23 in the morning. Sterling was steady at $U51.3355/65 against - its $U51.3348/58 opening. In New York, the United States dollar, which fluctuated throughout the day, managed to finish up against major foreign currencies in the United States. It had finished down in earlier European trading.
Gold prices declined. Bullion was quoted at $U5316.50 an ounce at Republic National Bank at 6 a.m. (N.Z. time) yesterday, down $U52.75 from Monday’s late bid.
The market was edgy ahead of the release of the United States gross national product “flash” estimate for the third quarter scheduled for release on Friday.
New York dollar rates, compared with late rates on Monday: 2.8995 West German marks, up from 2.8825; 241.68 Japanese yen, up from 241.10; 2.3810 Swiss francs, up from 2.3725; 1.37735 Canadian dollars, up from 1.37515; and 8.83625 French francs, up from 8.76125. Sterling fetched $U51.33525 against $U51.34315 on Monday.
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Press, 19 September 1985, Page 38
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222Dollar slightly firmer Press, 19 September 1985, Page 38
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