The New Zealand dollar was sent into a tail-spin this week by continued investor fretting over when the US Federal Reserve will stop printing money.
The dollar sank from as high as 81.62 US cents earlier this week to as low as 78.02 cents.
"The stronger US dollar is the result of the markets getting closer to the 18th of September Federal Reserve meeting, where it's expected that they will announce the first stage in the tapering of their monthly bond purchase programme," Bancorp Treasury Services senior client advisor Peter Cavanaugh said.
Also in a tail-spin was the wholesale market, with longer-term interest rates rising between 10 and 12 basis points. The 10-year swap rate ended the week at 5.05%.