N.Z. Dollar Weakens as RBNZ's Bollard Says Currency Depreciation Desirable

The New Zealand dollar weakened for a fourth day as central bank Governor Alan Bollard said a gradual depreciation of the currency is desirable.

New Zealand’s dollar fell 0.4 percent to 69.14 U.S. cents as of 9:11 a.m. in Wellington from 69.41 cents in New York yesterday. It bought 63.73 yen from 64.01.

To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net

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