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Currency weakness shouldn't be a concern for businesses - expert

Author
Newstalk ZB staff,
Publish Date
Tue, 24 Oct 2017, 5:23AM
The sell off of the Kiwi has been triggered nervous investors unsure of what policy changes will be introduced. (Photo \ Getty images)
The sell off of the Kiwi has been triggered nervous investors unsure of what policy changes will be introduced. (Photo \ Getty images)

Currency weakness shouldn't be a concern for businesses - expert

Author
Newstalk ZB staff,
Publish Date
Tue, 24 Oct 2017, 5:23AM

The New Zealand dollar has fallen around three percent since the announcement of the Labour led coalition.

The sell off of the Kiwi has been triggered nervous investors unsure of what policy changes will be introduced.

The coalition agreement is expected to be signed off and released today.

Craigs Investment Partners head, Mark Lister said the currency weakness is not much of a worry for businesses.

"You've got to remember that a lot of the companies on our sharemarket are exporters, so the currency weakness you've seen is actually quite a positive for them and they won't be too worried at all about what they've seen over the last few trading days."

Lister said the market is beginning to settle down after it was revealed who will form the next government.

"There's a lot of things that are still going their way and your not going to see dramatic change from this government, so I think you'll see a relatively relaxed business community going forward."

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