wouldve been a good day to sell !
http://www.interest.co.nz/news/nz-do...s-down-31-2007
New Zealand’s foreign exchange market handled an average of US$9.5 billion per day in April 2010, down from US$13 billion in 2007, but up from US$7.5 billion in 2004 and US$4.2 billion in 2001, the Reserve Bank reported as part of the BIS survey, which is carried out every 3 years by 53 central banks.
The New Zealand part of the survey included data from the five major banks participating in the wholesale financial market.
“Since 2007, foreign exchange turnover in New Zealand has decreased by almost 31%," said the Reserve Bank's Head of Financial Markets Simon Tyler.
"Much of the decline is due to a fall in foreign exchange swap transaction volume, only a modest 3% is due to a fall in the New Zealand dollar versus the United States Dollar since April 2007. This contrasts sharply with international data which show a 20% increase in global foreign exchange turnover (including spot transactions, outright forwards and foreign exchange swaps) to US$4.0 trillion per day from U$3.3 trillion in April 2007," Tyler said.
“Overall, the falls in transaction volumes in New Zealand and the New Zealand dollar have been mainly driven by less overseas interest in the New Zealand dollar and a shift from short to longer-term funding by New Zealand’s banks.”