About 1973?
Where did you go.Was it a long trip?
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rbnz noted china a risk to nz exports. lucky national say today they are going to let foreign buyers buy nz property again :eek2: need to support the property market which nz is built on lol
Huh?
It was I think about $1.1 nzd/usd in the late 60's
The high was $1.40 after labour (Norman Kirk) took office in 1973
Then it all turned to s*t a bit like now .haha
Just checked it nzd was fixed at 1.36 usd,although it was pounds ie 2.72usd
thrugh the 60s until NZ devalued by 18% around 1/1/1968 due to a recession in NZ.
After 1971 NZD started to appreciate again due to high export prices and usd devaluation due to Vietnam war financing.
Unhedge the NZ super fund..
Apparently it was a highly debated topic among the fund too.
https://www.stuff.co.nz/business/116...ll-of-its-bets
https://www.top1000funds.com/2020/11...currency-risk/
Believe it or not Clearasmud, the high of the 70's was even higher. $1.49 in the 4th Qtr of '73...and yes you are right, things then rapidly went downhill from there.
I'll 'stand down' and happy to be corrected re my claim on the super high sometime in the sixties. In my defense though, I think we need to remember currency pricing mechanisms were very different than today, and far more opaque. ;)
Either way though and despite the continued value destruction of the USD, it's a little sad to see the Kiwi continue to lose value, from those "good ol' days".
Just for fun (sentimental reasons) one day I should probably do a deep dive into my archives and see what sort of numbers were being printed 50+ yrs ago!