$NZ is still strong
PA Wellington The New Zealand dollar traded almost to SUSO.S7 on the foreign exchange market yesterday before easing to $U50.5640/55 in late trading. The unit opened at $U50.5610/30 and climbed higher throughout the day. By late morning it was at $U50.5675/95. Dealers reported the New Zealand dollar was well supported by exporters and short positions dealers had held yesterday. They said there was a little selling of the New Zealand dollar through Asian markets after they opened in the afternoon. One dealer said the New Zealand dollar was gathering more strength each day and few people would want to be short of the unit again. There had been good buying interest overnight from Europe. The United States dollar was virtually unchanged at 2.6390/00 marks after opening at 2.6385/00 and increased against the yen from 215.88/98 to finish at 216.05/15. The Australian dollar climbed back slightly from its opening at $U50.6970/77 to be at $U50.6995/02 late in the afternoon. The New Zealand dollar was worth 56.5 c U.S., 80.7 c Aust., 39.3 p, 12 yen and 1.49 marks. The trade-weighted Reserve Bank exchange rate index was 71.7 at 3 p.m.
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Press, 25 October 1985, Page 8
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193$NZ is still strong Press, 25 October 1985, Page 8
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