Christopher Adams at NZ Herald reports:
Currency experts are not ruling out the possibility of a seemingly unstoppable New Zealand dollar reaching parity – or equal value – with the US currency.
That would be great news for Kiwis planning a trip overseas, but a nightmare situation for many exporters. And adding to the pain, the kiwi is also making ground against the Australian dollar.
So where is the NZ$ against various currencies. Let’s take them in turn.
US – currently at 86.22c. Previous high (before 2011) was 81.76 in 2008.
UK – currently at 52.83p. Previous high (before 2011) was 49.94 on 31 Dec 2010
AU – currently at 79.58c. The high was 95.54c in Dec 2005 so a long way off the high
JP – currently at 67.67. The high was 97.62 in Jul 2007 so huge way off the high
EU – currently at 59.83c. The high was 60.92c in Dec 2005 so close to the high currently.
TWI – currently at 73.7. The high was 76.9 in Jul 2007 so some way away from the high
I still regard this as more of a story about the US and UK currencies being so weak because they have such huge fiscal deficits, than about the Kiwi being unstoppable.Tags: Exchange Rates