Exporters say reduced demand for goods worldwide could spell hard times ahead, despite the New Zealand dollar falling by record levels.
The Kiwi fell by more than four cents against the US dollar over the weekend and is now trading at 55.52 US cents.
The Australian dollar slid to five year lows against the US dollar - at close of business on Monday it was trading at 61.22 US cents after falling 4.2%.
Derek Rankin, a currency analyst with Rankin Treasury, says he expects New Zealand exporters will find international markets very difficult if demand continues to fall.
Mr Rankin says the Kiwi has fallen about 33% this year, which is its biggest movement in the last 16 years.
Intervention in Australia
In Australia, the Reserve Bank has intervened twice in 72 hours to support the Australian dollar after it dropped to a five and a half year low over the weekend.
The Reserve Bank of Australia confirmed it had entered foreign exchange markets on Friday night and again on Monday to buy the dollar.
