The New Zealand dollar has fallen from the one-year high of 86.06 US cents it hit following Thursday's hike in the Official Cash Rate.
Westpac currency strategist Imre Speizer said the Kiwi was likely to remain subdued as concerns of unrest in Ukraine dominated the headlines.
"The Ukraine situation could intensify over the weekend, and that caused the Kiwi to fall back," Mr Speizer said.
Just after 5pm, the New Zealand dollar was buying 85.40 US cents, 94.65 Australian cents, 51.40 pence, 86.87 yen and 0. 6163 euro.
Turning to the markets, the benchmark New Zealand NZX Top 50 Index has finished in the red, falling to close at 5079.
Wynard Group has risen 4.5 percent to close at $2.99 after its trading halt was lifted following a $35 million capital raising.
The sharemarket's biggest company, Fletcher Building, is down 1.5 percent to $9.58 while shares in mobile marketing company Vmob gained more than 7 percent to 28 cents after it announced its global expansion plans.
However, that is still some way off the 50 cent-high Vmob hit in October.