$NZ drifts quietly down
PA Wellington The New Zealand dollar drifted quietly down yesterday, ahead of the release of economic indicators later in the week. The kiwi closed at U562.80/90C from an opening 62.71/81c and Friday’s close of U563.02/12C. Volume was shallow with the indicator markets in Tokyo and the United States closed yesterday, dealers
said. Trading was also minimal ahead of the Australian balance of payment figures and United States trade figures, both tomorrow. The New Zealand consumers price index, due today, was expected to have little effect on the local currency. A rise of about 1.3 per cent for the quarter had been built into the market. Exporter buying continued to support the kiwi at lower
levels. “There was reasonable buying at about the 62.80 c level, but there was not massive activity,” one dealer said. On the cross rates the kiwi closed at Aust72.92c, 1.16 r Deutsche Marks, 35.53 pence, r 79.91 yen and 0.9899 Swiss ( francs. | The Reserve Bank trade t weighted index closed at 60.1, unchanged from Friday’s j close. £
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Press, 17 January 1989, Page 25
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175$NZ drifts quietly down Press, 17 January 1989, Page 25
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