Dollar down
PA Wellington The New Zealand dollar rallied a little In late afternoon trading on the foreign exchange market to close lower at $U50.5295/10 against its morning opening at $U50.5340/55.
Dealers said that afternoon trading was quite brisk after a quiet morning of purchase pressure on foreign currencies. Trading was mainly in a range between $U50.5280 and $U50.5360.
The Reserve Bank’s indicative exchange rate index was down to 64.3 at 3 p.m. from its 9 a.m. 65.2 level.
On cross rates the New Zealand dollar yesterday afternoon was worth (with the morning’s values in brackets): Aust74.97c (75.8), 1.22 marks (1.24), 36.4 p (36.9) and 95.14 yen (96.7).
The United States dollar Closed around 2.3075/90 marks from its higher morning opening at 2.3100/30. Against the yen, it closed around 179.50/65, down on its morning opening at 180.60/. 80.
Sterling closed higher at $U51.4520/40 from its JU51.4495 opening. The Australian dollar closed around 5U50.7065/72, firming against the weak United States currency. It opened at $U50.7044/51. Sterling moved up to 5U51.4582 in London after finishing at 5U51.4295 on Tuesday, though this was seen largely as a result of the United States currency’s weakness rather than an indication of the pound’s strength.
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Press, 21 February 1986, Page 10
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199Dollar down Press, 21 February 1986, Page 10
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