(Bloomberg) -- The New Zealand dollar advanced to near the strongest since it was floated 22 years ago after central bank Governor Alan Bollard raised the benchmark interest rate to a record high.
The currency also traded near a 17-year high against the yen after Bollard increased New Zealand's official cash rate by a quarter percentage point to 7.75 percent at his monetary policy review in Wellington today. Still, he didn't warn of further rate increases in his statement. High rates have helped the local dollar to make the biggest gain among the most-traded currencies tracked by Bloomberg over the past year.
Read more at Bloomberg Currencies News
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