N.Z. dollar
Sir, —Jack Urlwin (December 17) is concerned about the “low” New Zealand dollar and for the wellbeing of international travellers, consumers, and the hundreds of importers who bring into New Zealand goods from countries who recognise that exporting profitably is the path to future wealth. These same countries manage their exchange rates and interest rates to create an environment in which exporters flourish. The captains of industry he refers to have substantial parts of their companies off-shore to take advantage of offshore interest rates, export incentives, etc. The New Zealand dollar, while volatile, has been at its highest level for many years and needs to be much lower for an export-led recovery. When politicians realise this and take appropriate action, industry will return, exporters will prosper, unemployment will dive, and Jack Urlwin and his various interest groups will share in the gains made.—Yours, etc.,
E. OAKLEY. December 18, 1988.
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Press, 28 December 1988, Page 12
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151N.Z. dollar Press, 28 December 1988, Page 12
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