Until 1984 the value of the New Zealand dollar was fixed by government. However the Labour government elected in 1984 decided to allow the dollar to float, and be set by market forces. This television report covers the first day the dollar was floated, 4 March 1985; Ian Mills, foreign exchange manager for the Bank of New Zealand, reports on the calm start to the float, which was attributed to the fact that the previous fixed rate for the 'Kiwi' was realistic.
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