Jenee Tibshraeny: NZ Herald Wellington business editor on the Reserve Bank buying up foreign currency assets
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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