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PA Wellington The New Zealand dollar looked on as interest rates plunged yesterday, the New Zealand dollar closing at U561.40/47C from an opening 61.58/68 and Wednesday’s close of 61.37/47. Dealers said the call rate slipped 350 points to 11.75 per cent and the five-year Government stock rate eased to 12.94 per cent from Wednesday’s 13.04 per cent. On the cross rates the New Zealand dollar was worth Aust6B.9lc, 1.14 marks, 35.14 p, 79.49 yen, and 0.9756 Swiss francs. The Reserve Bank trade weighted index was at 58.7, steady on its opening, but slightly ahead of Wednesday’s 58.6 close. In Sydney the Australian dollar hovered above USB9c, closed at 89.07/14. The Australian dollar firmed to JNZ1.4504/35 from 1.4468/99.
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Press, 10 February 1989, Page 18
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119$NZ quiet Press, 10 February 1989, Page 18
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