Story: Balance of payments

Devaluing the dollar

In 1984, in the midst of a constitutional crisis over the roles of outgoing Prime Minister Robert Muldoon and incoming Prime Minister David Lange, New Zealand devalued its currency by 20%. Watch this clip from a TV news broadcast of Lange announcing the large devaluation.

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TVNZ Television New Zealand

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How to cite this page:

C. John McDermott and Rishab Sethi, 'Balance of payments - Correcting current account deficits', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/video/23969/devaluing-the-dollar (accessed 22 April 2019)

Story by C. John McDermott and Rishab Sethi, published 11 Mar 2010