$NZ steady in US57c range
PA Wellington The New Zealand dollar wavered at around US57c on the foreign exchange market yesterday. The local unit opened at $U50.5720/35 and traded at $U50.5705/20 near theclose. Dealers said there was buying pressure when the unit fell below US57c and selling interest when it went above this level.
Earlier in the day, one dealer said the New Zea-
land market appeared to be bearish for the kiwi dollar, while the opposite applied in overseas markets. The trade-weighted Reserve Bank exhange rate index was at 71.3 at 3 pm, level with the morning’s reading but below 71.4 at lunch.
Today the New Zealand dollar was worth US57c, A83.3c, 38.4 p, 115.7 yen, and 1.43 marks.
The US dollar traded
slightly firmer at 2.5190/00 marks from 2.5125/65 marks, after briefly touching 2.5250. Sterling traded at 1.4835/ 45 from its 1.4860/80 opening. In yen the dollar was at 202.85/95 from 202.10/40 in the morning.
The Australian dollar traded quietly, easing to $U50.6835/42 from SUSO.6BSG/60 in the morning.
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Press, 3 December 1985, Page 37
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170$NZ steady in US57c range Press, 3 December 1985, Page 37
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