N.Z. dollar falls back after 75pt boost
PA Wellingtor The New Zealand dollat fell back to U558.40/50c last evening after being boosted 75 points by a weaker U.S. unit. The New Zealand dollar opened at U558.05/15C and rose to the day’s high by mid-
morning at USSB.BOC, but onshore traders determined the market. On Tuesday the New Zealand dollar closed at U 557.83/ 93c, just three points down on its opening. The U.S. dollar on Tuesday ended in New York at 1.8820/
30 Deutsche marks and t 141.45/55 yen, against 1.8965/ | 72 dm and 142.53/58 yen at Monday’s close. 1 On the early cross rates, ' the kiwi gained against the 1 Australian dollar to reach 1 Aust77.6Bc at mid-morning, ' and firmed marginally to
Aust77.7o at close, up 68 points on Tuesday’s close. The New Zealand dollar firmed against other major currencies at 1.10 dm, 35.72 pence, 82.68 yen, and held its ground on the Swiss franc at 0.9466. The Reserve Bank trade-
weighted index closed up at 60.6 from Tuesday’s 60.3 close. A week ago it closed at 59.1 and a month ago at 60.1. The Australian dollar closed with buyers offering U575.16c, but sellers stayed put at ,U 575,26
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Press, 27 July 1989, Page 37
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200N.Z. dollar falls back after 75pt boost Press, 27 July 1989, Page 37
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