Thursday, March 6, 2008

New Zealand dollar rebounds

The New Zealand dollar rose today, after Reserve Bank governor Alan Bollard left the Official Cash Rate at 8.25 percent in the bank's quarterly Monetary Policy Statement. By 5pm, the kiwi was at US80.26c, compared with yesterday's local close of US79.84c.

In other news today:

* Auckland house prices fell 4 percent in February, which saw just over 600 sales. The average house price has fallen to $517,613 since January in what has become a buyers' market, says Barfoot and Thompson managing director Peter Thompson.

* Broadband subscribers rose 14.4 percent to 829,300 in the six months to September 2007, Statistics New Zealand said today. Subscribers with dial-up connections fell 8.6 percent to 675,800 in the same six-month period.


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