Wellington, Oct 16 (IANS) The New Zealand dollar dropped to $0.6041 against the US dollar on Wednesday, which was the lowest since August 19.
The New Zealand dollar is slightly weaker earlier Wednesday against the US dollar, currently trading at $0.6064 at the time of writing.
The decrease was attributed to the stronger US dollar with a prospect of aggressive interest rate cuts in the United States, Xinhua news agency reported.
Domestically, New Zealand's annual inflation increased by 2.2 per cent in the third quarter, following a 3.3 per cent annual increase in the second quarter of this year, the lowest since March 2021, according to the new government statistics.
The New Zealand central bank reduced monetary restraint on October 9 by cutting its Official Cash Rate by 50 basis points to 4.75 per cent, the lowest in 18 months.
--IANS
int/jk/
You may also like
How the MATES Program Opens Opportunities for Indian Students in Australia
Old Donald, a burger king, to fry Kamala over McDonalds
Now separatists will come together to worsen the situation in J&K: Sanjay Nishad
MUDA chief, Siddaramaiah aide K Marigowda resigns amid land scam allegations
88% of the people in the country are victims of anxiety, the condition worsens due to stress, psychologist told the 3-3-3 rule to calm the mind
Omar optimistic about early restoration of statehood to J-K
Govt orders withdrawal of NSG commandos from VIP security, CRPF to take charge
NASA wants your idea. Take home Rs 25 crore in cash if you solve a moon mission challenge
Mason Mount's comments about Thomas Tuchel speak volumes as new England boss is confirmed
Arthritis Surgery: Is it possible to get rid of arthritis pain without surgery? Know when an operation is needed
"Haryana people have placed faith in policies of PM Modi": Nayab Saini after being chosen as leader of legislature party
World Food Day: This fruit has more vitamin-C than orange, consume it daily and infectious diseases will not even come near you
MAFS star Polly branded 'embarrassment' by groom in explosive rant on 'double standards'
Threat messages for flights: 'Working on putting those issuing same on no fly list,' says Govt
Plans to develop Goa's islands may result in their decline
World Food Day 2024: This green vegetable is very beneficial in diabetes, it also has benefits in improving skin complexion
Arsenal sent clear Liverpool Premier League title warning as Arne Slot eyes Mikel Arteta battle
There's one place you should never store chocolate - and it's a common mistake
30 bullet wounds, nails pulled out, and more: Shocking autopsy report of Bahraich riots victim Gopal reveals
Akasa Air flight en route to Bengaluru returns to Delhi amid bomb threat