The New Zealand dollar has reached a fresh high against the euro after the European Central Bank cut its key interest rate to a record low of 0.75%.
The currency on Friday rose to an all time high against the European currency buying 64.89 euro cents.
Only 8% of New Zealand's exports are sold to Europe, so the high exchange rate will have little direct impact on exporters.
But BNZ currency strategist Mike Jones says there may be an indirect effect on New Zealand's trade with China, as slowing European economies are affecting China's growth.
