RBNZ reports NZ$111m loss

The Reserve Bank of New Zealand (RBNZ) made a loss of NZ$111 million ($83.37m) in 2009/10 due to its unhedged position on foreign exchange markets and as a result cut its dividend payment to the government by nearly half.

In its Annual Report for 2009/10 published on Tuesday, the RBNZ said it made a net loss of NZ$111m in the financial year to 30 June 2010 compared to a NZ$906m profit last year as a result of unrealised losses arising from adverse revaluations on assets and liabilities.

"While o

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