The New Zealand dollar again slipped below 50 US cents on Friday as sharp falls in US stock markets triggered further selling of risky assets.
Wall Street indicies had fallen 4% on Thursday as General Motors warned of possible bankruptcy and concerns about the banking system's fate prompted a flight to investment safe havens.
The dollar last week fell to a six-year low against the US currency of 49.12 US cents.
Around midday on Friday the New Zealand dollar was trading at 49.77 US cents.
