Index reflects $NZ depreciation
Average prices received for New Zealand’s main export commodities continue to reflect the depreciating New Zealand dollar, according to an ANZ Bank economist, Mr David Ward. The bank’s commodity price index for June rose by 1.6 per cent in terms of the
New Zealand unit following a 2.5 per cent depreciation in its value over the month. Increased returns for beef, lamb, timber and casein were partly offset by decreased returns for aluminium and cheese. Mr Ward said that' the
exchange rate adjusted index actually fell I per cent over the month. The banks' New Zealand dollar index for June stood at 116.8 (from a revised 115.0 in May) while the exchange rate adjusted index fell to 117.9 (from a revised 119.0 in May).
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Press, 27 July 1989, Page 35
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128Index reflects $NZ depreciation Press, 27 July 1989, Page 35
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