Kiwi holds ground
PA Wellington The New Zealand dollar drifted higher to close at U566.55/65C yesterday after opening at U566.32/45C. Trading ranged between U566.23c and U566.70C. Dealers said trading had been dull all day. One reported only one deal in the first four hours of trading. They said the kiwi was continuing to track the U.S. dollar, but with that currency also quiet the kiwi was basi-
cally “lying around doing nothing." On cross rates, the kiwi closed at AustB2.72c, 1.2471 marks, 38.91 p, 88.398 yen, and 1.0398 Swiss francs. The Reserve Bank’s trade weighted index closed at 66.2 after closing at 66.0 on Wednesday. In Sydney, the. Australian dollar finished marginally higher at U580.48/55C yesterday, keeping gains made on overseas markets.
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Press, 5 August 1988, Page 19
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122Kiwi holds ground Press, 5 August 1988, Page 19
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