N.Z. dollar
Sir,—The belief that the exchange rate philosophy of the Government is to blame for the decline in tourism is false. In March, 1981, SNZIOOO bought SUS9IB, but nobody then complained about the strength of our currency. Ten to 12 years ago, a West German tourist would receives only about $450 for 1000 marks. Today, he received about $BBO. Conversely, a New Zealander, for $lOOO, would then have received about 2200 marks, today only 1130. In 1985, our dollar reached a low against the United States dollar and many tourist operators took advantage of this to boost their prices — a greedy approach now coming home to roost. Accommodation, drinks and meals out are, by and large', expensive in New Zealand. Having visited West Germany in 1985 and 1987, I can say this withcertainty and the average income per head in that country is considerably higher than here. — Yours, etc., A. C. GRANT. February 17, 1988.
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Press, 20 February 1988, Page 35
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156N.Z. dollar Press, 20 February 1988, Page 35
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