Proposed New Zealand & Australian Currency Unity
AUSTRALIA – There have been proposals to unite the New Zealand and Australian currencies. The suggestion has come from the Productivity Commissions of both countries who are looking into ways to create closer economic relationships between the two trading partners/competitors.
At the moment New Zealand enjoys the most value for its agricultural exports because its currency is not as strong at Australia’s.
But John Wilson, from Fruit Growers Victoria is unsure whether a united currency would have an affect on apple imports from New Zealand.
He says there would be a lot of work to be done to equalise the two economies, in areas such as cost of labour.
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