New Zealand's kiwi hits multi-year low as petrol prices near $4 per litre
The kiwi fell to 55.8 US cents, its weakest in years, while gasoline prices approach $4 a litre.
The New Zealand dollar slid to a seven-week losing streak, reaching 55.8 US cents, the lowest level in four years. The decline comes as the Reserve Bank of New Zealand may pause policy while the Reserve Bank of Australia raised rates for the fourth time this year. At the same time, domestic petrol prices are climbing toward $4 per litre, adding pressure on consumers.
Why it matters
A weaker kiwi and rising fuel prices increase living costs and could shape New Zealand’s monetary policy.
In this story
kiwi dollarUS centsAustralian dollarReserve Bank of New ZealandReserve Bank of Australiapetrol price$4 per litreexchange ratecash rate hikemulti-year low
