Dollar reaches 81 cents

The New Zealand Dollar has just reached the 81 centbarrier against the US Dollar. This is part of a dramatic risein the value of the New Zealand dollar against the US Dollar in the past few years, although its rise against the US dollar has been caused partly by the weaknessof the US Dollar. I don’t know too much about exchange rates, but I’m sure there are many reasons for this, but an important one is probably that with a successful economy the currency will inevitably rise in value. Lets hope the economy continues its strong preformance. Although there are some loosers from the high dollar, there are winners as well, and dairy farmers, if not other farmers are well compensated for any pain the dollar may be causing them by high dairy prices (one of the factors pushing up the dollar). Lets hope the good news continues.

For those who take more interest in exchange rates than I do, theres a good section here on the NZ Dollars strength.

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