N.Z. dollar drops
A dramatic fall by the New Zealand dollar against the United States dollar — amounting to no less than l%c — and a conviction by investors that interest rates are really in a longer-term downward trend sent the New Zealand sharemarket to unprecedented heights in frenetic trading. In the last two days the index of industrial shares — a number designed to measure what is difficult to measure, the price behaviour of all shares listed on
the New Zealand Stock Exchange — has risen virtually 4 per cent. This is the biggest rise in the market’s history, and reflects the euphoric mood of investors that the economy is on the right _path.. The falling New Zealand dollar * benefits exporting companies, and also those companies like Brierleys that 1 have . substantial overseas interests. Sharemarket details, page 10
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Press, 13 December 1985, Page 1
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135N.Z. dollar drops Press, 13 December 1985, Page 1
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