$NZ well bid
PA Wellington The New Zealand dollar closed well bid yesterday but below its high for the day and is expected to have good support in the short-term. The kiwi finished at U560.94/02C after rising to a new post-float high of U561.09/16c, surpassing the previous 61.00 c high set earlier in the day. It opened at U560.65/72C against its 60.40/50c close on Tuesday. The New Zealand dollar floated at 44.44 c on March 4, 1985. The Reserve Bank trade weighted index moved up to 70.6 after opening the day at 70.5.
Crossrates for the kiwi were AustB6.o4c, 1.1347 Deutsche marks, 38.04 p, 92.767 yen and 0.9407 Swiss
The Australian dollar closed near its highs for the day yesterday at U571.01/06, spurred on by local corporate buying at the lows. This was up from a previous Sydney close of 70.65/70c and ahead of yesterday's U570.98/03C opening. The currency eased to 70.85 c in quiet trading after Reserve Bank sales at 71.04 c tempered early buying. In New York on Tuesday (early yesterday NZ time) the United States dollar closed at 118.15 yen down from 152.705.
Other late dollar rates in New York included: 1.86005dm, down from 1.8615; 1.5415 Swiss francs, down from 1.54865; 6.1915 French francs, down from 6.2045; 1343.75 Italian lire,
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Press, 23 July 1987, Page 25
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213$NZ well bid Press, 23 July 1987, Page 25
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