$NZ closes up
PA Wellington The New Zealand dollar traded in a narrow range yesterday to finish close to its day’s high at U562.33/43C. Opening at U562.2C, slightly down on its Friday close of U562.35/45C, the dollar traded through a high of U562.41C and a low of US6I.BBC. A morning newspaper report in the capital rekindled some nervousness about the make-up of the Cabinet and caused some early selling. However a dollar tailspin, expected by some observers, did not materialise, dealers said. There was a total lack of interest but the currency did receive support, albeit on low
volumes amid quiet trading, they said. On the cross rates at yesterday’s close the dollar was worth Aust77.72c, 1.1547 marks, 36.81 p, 83.199 yen and 0.9741 Swiss francs. The Reserve Bank trade weighted index closed at 62.2 slightly up on its opening fix of 62 and its Friday close of 61.9. In Sydney the Australian dollar was mixed at 47.28/35p from 47.33/40p on Friday, 1.4842/57 marks from 1.4858/ 76, 1.2517/36 Swiss francs from 1.2581/00, NZ128.76C from NZ129.23C and 106.97/ 15 yen from 107.13/26. September Australian dollar futures prices eased to a close of U580.24c
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Press, 13 September 1988, Page 23
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192$NZ closes up Press, 13 September 1988, Page 23
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