MY BEAUTIFUL COUNTRY! - New Zealand Land of the Long White Cloud.

MY BEAUTIFUL COUNTRY!
New Zealand Land of the Long White Cloud.

NZ Dollar Far Too High For Exporters!
12:57:43 AM - 2007-10-30

TUI CRUDE OIL EXPORTS GOOD FOR NEW ZEALAND!
New Zealands Trade deficit looking good due to Tui Crude Oil Exports.
Taranaki Tui Oil Field off shore has been producing an average of 40,000 barrels of oil a day since the end of July is giving a better than expected trade deficit for N.Z. In August $159 million in oil exports were up about $100 million on the level for July.September oil exports were almost as high as August.
If it was not for boost for oil and aircraft sales the picture around exports was pretty glum.
Exports remain under pressure by the high level of the New Zealand Dollar.
The NZ currency continues to rise against US dollar, it was just above 77 cents yesterday 29 Oct 2007 and it is making exporters nervous. The dollar was trading under 70 cents against the America Dollar in the middle of September.
So as the New Zealand Dollar continues to strenghten against the US dollar because of the weakness in the greenback and the ongoing attraction of New Zealand's high interest rates the exporters will continue to be nervous of the high NZ dollar.
As for the cost of fuel for New Zealand user, with the cost of a barrel of oil at nearly $93.00 a barrel, what is the cost of fuel going to be by christmas, at the monment 91 is $1.65 a litre with the higher octane 5 cents higher, so much for
Tui Crude Oil Exports New Zealand still pay's a high price to keep their car on the road without the high interest rate.
When will it end?
ELSIE HAGLEY

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