8 Jul 2011

New high reached by NZ dollar

12:21 pm on 8 July 2011

The New Zealand dollar hit a new post-float high against its American counterpart on Friday morning, as investors were buoyed by prospects of an improving global growth outlook.

The kiwi touched 83 point 38 US cents, its highest level since it was floated in March 1985.

It's since fallen a touch, to about 83.3 US cents.