Bloomberg News

New Zealand Currency Drops Versus Dollar After S&P Cuts Rating

September 29, 2011

Sept. 30 (Bloomberg) -- New Zealand’s dollar dropped versus its U.S. counterpart after Standard & Poor’s cut the country’s credit rating.

The so-called kiwi fell as low as 76.57 U.S. cents before trading at 76.79 cents at 1:33 p.m. in Wellington. It closed at 77.10 cents in New York yesterday.

To contact the reporter on this story: Benjamin Purvis in Sydney at bpurvis@bloomberg.net

To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net


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