Dollar ignores C.P.I. figure
PA Wellington The foreign exchange market was subdued in tone yesterday, the New Zealand dollar falling to react to the favourable Consumers Price Index figure released at the week-end. One dealer said the bet-ter-than-expected result could have one of two opposite effects:
• Lower inflation would bring downward pressure on wholesale interest rates, thus effecting selling pressure on the kiwi dollar; or ® It could inspire further overseas confidence and investment in the New Zealand economy, putting upward pressure on the unit
The dealer predicted a
U554.7C to U555.7C trading range for the rest of this week.
The kiwi dollar traded at $U50.5520/35 late in the day, compared with $U50.5515/30 in the morning. The trade-weighted Reserve Bank exchange rate index was at 66.7, against 66.6 in the morning. Yesterday the New Zealand dollar was worth Aust77.3c, 1.27 marks, 98.6 yen and 37p. The United States dollar was a touch easier, trading at 2.2975/85 marks and 178.20/30 yen against 2.3020/80 and 178.00/50. Sterling held firm at $U51.4790/00, up from 5U51.4770/00 in the morning.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19860415.2.148.4
Bibliographic details
Press, 15 April 1986, Page 30
Word Count
174Dollar ignores C.P.I. figure Press, 15 April 1986, Page 30
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in