3 Nov 2010

NZ dollar hits new high against Greenback

6:00 pm on 3 November 2010

The New Zealand dollar has hit a new 27-month high against its American counterpart.

At 5.20pm on Wednesday, it was buying US77.15 cents.

The exchange rate between the two countries is being driven by a weakening US dollar.

Earlier this week, Prime Minister John Key acknowledged the huge pressure the high New Zealand currency is putting on exporters but said the Government has no intention of intervening.