2 Mar 2009

NZ dollar falls to near six-year low

5:11 pm on 2 March 2009

The New Zealand dollar has fallen below 50 US cents to almost a six-year low against its American counterpart.

It fell to US49.81c on Monday morning - its lowest level since November 2002.

BNZ currency strategist Danica Hampton says the drop was prompted by heavy losses on global equity markets over the weekend and aversion to increased risk.