They usually show the exchange rate the other way round. This way’s more relevant. If you export and get paid in US dollars, the number of NZ dollars you can buy with the same US earnings has gone down 17% in the last 4 months. And if your US dollar prices are falling, like dairy’s….
The one thing that puts a dent in our dollar’s rise is news that our exports are suffering. Even that wasn’t enough of a wake-up call. The rise soon resumed.
Look forward to more. Tomorrow Bollard will signal an earlier rate rise. More people will buy NZ dollars. As US crisis drags on, more people will bail out of the reserve currency.