Currency: Dollar steady in days trading

6:06PM Tuesday Nov 18, 2008

The New Zealand dollar remained steady against the greenback today.

The NZ dollar was buying US55.05c at 5pm today, down slightly from US55.88c at 8am and US55.35c at 5pm yesterday.

The kiwi remained steady between US54.70c and US56c over the last two days.

The BNZ said the NZ dollar had "tagged along" with interest in the Australian dollar on the London market but "interest in trading the kiwi remains sporadic at best".

"Looking ahead, the outlook for global growth remains the key driver of currencies. Positive economic and credit news is still lacking."

The kiwi also traded in a narrow range against the Japanese yen, at 53.21 at 5pm today from 53.95 at 5pm yesterday and 54.23 at 8am this morning.



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Currency: Dollar steady in days trading
6:06PM Tuesday Nov 18, 2008
Tracking the NZ dollar

* NZ dollar weak after market jitters
* Kiwi rallies after overnight fall

The New Zealand dollar remained steady against the greenback today.

The NZ dollar was buying US55.05c at 5pm today, down slightly from US55.88c at 8am and US55.35c at 5pm yesterday.

The kiwi remained steady between US54.70c and US56c over the last two days.

The BNZ said the NZ dollar had "tagged along" with interest in the Australian dollar on the London market but "interest in trading the kiwi remains sporadic at best".

"Looking ahead, the outlook for global growth remains the key driver of currencies. Positive economic and credit news is still lacking."

The kiwi also traded in a narrow range against the Japanese yen, at 53.21 at 5pm today from 53.95 at 5pm yesterday and 54.23 at 8am this morning.

Following the announcement that Japan's economy joined the 15-country euro zone in recession in the third quarter which added to investor concerns.

Against Australian dollar, the kiwi was at A85.45c at 5pm after slipping to A85.05c by 8am from A85.45c at 5pm yesterday.

Against the euro the kiwi was little changed at 0.43564, from 0.4391 at 8am.

The trade weighted index was at 56.31 from 56.88 at 8am.

Currency rates:

NZ dlr/US dlr US55.05c US55.35c

NZ dlr/Aust dlr

A85.20c A85.45c

NZ dlr/euro 0.43564 0.4399

NZ dlr/yen 53.21 53.95

NZ dlr/stg 36.78p 37.55p

NZ TWI 56.31 56.76

Aust dlr/US dlr US64.60c US64.77c

Euro/US dlr 1.2610 1.2582

US dlr/yen 96.65 97.50

- NZPA