24 Mar 2015
NZ FinMin: Strong Kiwi a headwind for exporters
FXStreet (Bali) - Finance Minister Bill English made reference to the pros and cons from the appreciation in the New Zealand dollar, noting that it was positive for households, but a headwind for exporters, Interest NZ reports.
English said the strong Kiwi is "bit of a challenge for exporters to Australia, but we have got resilient exporters, they'll be adapting to it and of course some of them may end up shifting markets because we are weakening against the US dollar," he said, with quotes via Interest NZ.
English added: "The fact that New Zealanders' purchasing power is improving relative to Australian dollar purchasing power in the long run is a good thing, but it does create a bit of pressure in the short run for our exporters," he said.
English said the strong Kiwi is "bit of a challenge for exporters to Australia, but we have got resilient exporters, they'll be adapting to it and of course some of them may end up shifting markets because we are weakening against the US dollar," he said, with quotes via Interest NZ.
English added: "The fact that New Zealanders' purchasing power is improving relative to Australian dollar purchasing power in the long run is a good thing, but it does create a bit of pressure in the short run for our exporters," he said.