The New Zealand dollar (sign: $; code: NZD) is the currency of New Zealand. It also circulates in the Cook Islands (see also Cook Islands dollar), Niue, Tokelau, and the Pitcairn Islands. It is divided into 100 cents.It is normally written with the dollar sign $, or NZ$ to distinguish it from other dollar-denominated currencies. It is often informally known as the "Kiwi (dollar)", kiwi typically being associated with New Zealand, and the $1 coin depicts a kiwi. It is one of the 12 most-traded currencies in the world.

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Thursday, April 2, 2009

NZ dollar retreats from high

The New Zealand dollar reached its highest level against the greenback in more than 11 weeks today, then retreated.
The kiwi peaked at US59.01c but eased back to US58.56c by 5pm, which was still up from US56.80c at 5pm yesterday.
The rise came care of a fall in the US dollar as gains in Wall Street stocks eroded the greenback's safe-haven appeal.
The improvement in investors' risk appetite sparked a rally in higher-yielding, commodity currencies such as the Australian and NZ dollars.
US stocks jumped after world leaders at the Group of 20 summit agreed to pump an additional trillion US dollars into the global economy to fight the financial crisis, and on US accounting rule changes aimed at giving banks flexibility when dealing with toxic assets.
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