There are expectations inflationary pressures could push the New Zealand dollar to its highest level against the US dollar since pre-float days later this year.
The kiwi is trading above November's high and is trading at about 79.93 US cents.
Rankin Treasury says the kiwi's rise has been driven by a weak US dollar, with investors nervous about the huge debt burden of the United States.
Managing director Derek Rankin says the New Zealand dollar is likely to continue strengthening later this year as inflationary pressures grow.
