Prime Minister John Key has shrugged off suggestions of intervention to counter the surging dollar.
The dollar has hit a six month high after the United States Federal Reserve announced it would print money to devalue the currency and create jobs.
The Labour and Green Parties have called for action to bring down the dollar, saying the alternative is falling exports and job losses.
Mr Key told TVNZ's Q+A programme that driving up debt to bring down the dollar is not a permanent solution to the country's woes.
He says the Government is focussing on fundamentals such as education, flexible labour markets and overseas trade deals to rejuvenate the economy.