New Zealand cb's reserves boosted

The Reserve Bank of New Zealand will receive an extra NZ$1.9 billion (US$1.2 billion) in foreign exchange "for the purpose of stabilising the foreign exchange market in a period of, or to avoid, market dysfunction," Michael Cullen, the finance minister, announced.

The increase of over 20% will raise existing reserves to NZ$7 billion, in line with the bank's request of February 9. A further increase in reserves to facilitate a "more active medium-term intervention capacity" at both the top an

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: