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Importers Institute - Currency Movement Explained

Import News from the Importers Institute 5 April 2002 - Currency Movement Explained

The New Zealand dollar collapsed when this Government was elected but it went from 41 to 44 US cents in the past few weeks. Could it be because this is election year and speculators are taking an early punt on a possible change of Government?

On a purchasing power parity basis, the New Zealand dollar is thought to be undervalued, as any New Zealander who travels overseas will confirm. This lead some commentators to say that they expect it to reach 50 cents by the end of this year. We note that they made the same prediction last year, and the year before.

Speaking of pesos, the Mexicans are coming. A trade mission that includes exporters of food and beverages, textiles, handicrafts, oils and lubricants, military equipment and other goods will be visiting Wellington on April 22 and Auckland on the 23rd and 24th. For detailed information and to arrange meetings, contact Lia Tuerlings of Language Consultants email ceramica@iconz.co.nz.

Ends

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