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Jenee Tibshraeny: NZ Herald Wellington business editor on the Reserve Bank buying up foreign currency assets
Published 1 year, 1 month ago
Description
The Reserve Bank of New Zealand is continuing to buy foreign currency assets to give it more firepower, should it need to intervene in the market during a crisis.
The central bank sold a whopping $259 million of New Zealand dollars in March to buy assets, such as government bonds, linked to other currencies.
The sale marked the second-largest foreign exchange-related transaction (or series of transactions) the Reserve Bank (RBNZ) has engaged in during a month in just over a decade.
NZ Herald Wellington business editor Jenee Tibshraeny explains further.
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