The headlines are screaming New Zealand Dollar In Free Fall less that 2 days after Bollard and Co. raised the official cash rate again. The rate increase should have pushed the dollar even further up into the stratosphere but instead it falls.
That just goes to show how futile trying to control our tiny floating currency is. Something happens with the US dollar or the Yen and up or down she goes almost totally independent of what in happening here where Kiwi dollars pay workers and buy groceries.
While my secretary keeps buying the nice catfood instead of that cheap stuff I am not worried about it. So long as it isn't that toxic stuff imported from China that caused such a fuss (and dead cats!) over in the USA that is. No worries about the exchange rate if it is made in NZ after all.
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