30 Oct 2014

NZ dollar falls against the greenback

6:51 pm on 30 October 2014

The New Zealand dollar dropped more than one-and-a-quarter US cents today, and fell against all the currencies of the country's major trading partners.

The senior foreign exchange strategist at ANZ Bank, Sam Tuck, said statements by both the United States and New Zealand central banks hurt the kiwi.

At 5pm today, the kiwi was trading at 77.9 US cents, 88.84 Australian cents, 48.74 British pence, 0.6173 euro, 84.95 yen and 4.76 renminbi.

New Zealand shares rose today, with the benchmark Top 50 Index hitting a fresh record during the day for the fifth trading day in a row.

It rose 14 points to 5370.

A director at Murray and Co, Johnny Cochrane, says the Reserve Bank's announcement pushed stocks higher.

Shares of star performer Freightways increased 35 cents to $5.50 and Vector shares gained 5 cents to $2.70.

Xero shares dropped 30 cents to $15.85.