RBNZ happy with "remarkably stable" NZ dollar

Reserve Bank Governor Alan Bollard said he was not concerned about the current level of the New Zealand dollar. "No, we're not at the moment," Bollard told Radio New Zealand National in an interview this morning when asked if he was worried about the slight fall in the New Zealand dollar in recent days because of the turmoil on global markets. "The kiwi dollar has caused us all some angst at times in the past and really it's at a reasonable sort of level," Bollard said. "We look at it against the Trade Weighted Index (TWI). Against the TWI index it has been remarkably stable through this period. It's been one of the world's more stable currencies overall."