High dollar - better buying
5:00AM Sunday April 22, 2007
By Michelle Coursey
With the New Zealand dollar at its strongest in 22 years, consumers are in for some bargains on imported products.
The dollar hit a high last Thursday of almost US75cents, the highest it has been since it was floated in March 1985.
While some economists are predicting that the Reserve Bank may lift interest rates again, consumers can probably expect further reductions on items like televisions, computers, telecommunications equipment, and travel costs.
Importers Institute chief executive Daniel Silva said the strength of the dollar meant importers would pay less for goods, which meant a subsequent drop in prices for shoppers. Silva said the rise of the Kiwi dollar had already brought prices down on many imported goods.
"Electronics - flat-screen TVs for example - are a fraction of the price they used to be a year ago."
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