$NZ’s yen drop
PA Wellington The New Zealand dollar held steady against most currencies in quiet trading on the foreign exchange market yesterday, but continued to weaken against the yen. The domestic unit was yesterday worth 74.75 yen, down from 75.9 in the morning. Before the float, the kiwi dollar was worth 114 yen. Against the U.S. dollar the unit firmed marginally to $U50.4865/75 compared with $U50.4855/65 in the morning. The Reserve Bank’s trade-weighted index re-
mained at 60.2 throughout the day. By 4.20 p.m. the unit was worth Aust79.6c, 98.6 DM 32.6 p, 74.75 yen and 79.6 Swiss francs. The U.S. dollar had taken a pounding after the release of a worse-than-expected SUSIB.O4 billion trade deficit for July. This effectively pushed the U.S. unit down to 2.0255/75 marks and 153.60/80 yen, where it remained throughout the day. The Australian dollar was a touch stronger at 0.6103/10 U.S. dollars against 0.6081/88.
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Press, 2 September 1986, Page 28
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151$NZ’s yen drop Press, 2 September 1986, Page 28
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