Cullen claims NZ dollar 'in comfortable area'

Finance Minister Michael Cullen said today the country's currency was back in a much more comfortable area and the concern now was that a further steep fall could push up inflation.

"The dollar is much more back into a comfortable area from perspective of exporters and the economy as a whole," Cullen told Radio New Zealand.

"Obviously, the concern now is that it may fall too quickly and push more inflationary pressure on and that'll put off the day when the Reserve Bank can starting easing up on interest rates."

The New Zealand dollar rose about 0.2 of a US cent to US61.40c after the comments.

- NZPA