A decline in the dollar is "welcome" and will help exporters, Finance Minister Michael Cullen says.
The dollar has dropped 9.5 per cent against the US dollar this year, making it the worst performer of 16 major currencies. It closed yesterday down nearly half a cent at US62.10c.
Cullen told Parliament's finance and expenditure committee yesterday the currency was now at "the upper end of the comfort range for exporters" so any fall was welcome.
He also said inflation pressures were "strong" in the economy and the country could not afford big wage increases.
He predicted economic growth in the second quarter would probably be "relatively weak".
Dollar's fall a boon to exporters, says Cullen
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