New Zealand Dollar tagged posts

New Zealand Dollar Could Be Downgraded

January 13, 2009 International FinanceNew Zealand Finance  No comments

The credit rating agency Standard & Poor’s has warned that it might revise and lower its rating of the New Zealand dollar depending on the outcome of the next government budget.

 

Kyran Curry, Standard & Poor’s sovereign analyst, has laid the blame for the outlook revision on what they perceived to be a narrowing of New Zealand’s economic policy flexibility and increased imbalance, characterized by the significant current account deficit.

 

The downgrade to the New Zealand Dollar is not imminent nor is it definite, with the final decision pending on the perception of Standard & Poor’s on decisions made policymakers, especially in regards to medium-term fiscal consolidation.

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2008 Worst Year for New Zealand Dollar Ever

January 2, 2009 New Zealand Finance  No comments

The year 2008 saw the highest fall in the value of the New Zealand dollar against the U.S. Dollar.

Amidst world financial crises in 2008, the New Zealand Dollar (also known as the Kiwi) saw itself both at the highest levels it has reached in the last 23 years and experiencing the biggest drop of its lifetime. On March 14th, the New Zealand Dollar was traded at 82.13 U.S. cents to the dollar. On the 31st of December 2008, the Kiwi was trading at 57.93 cents U.S. Almost a 30% drop.

According to New Zealand Prime Minister John Key, in an interview conducted on the 7th of December, the New Zealand Dollar could even dip below the 50 cent mark in 2009...

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