WELLINGTON, Oct. 28 (Xinhua) -- The slide in the New Zealand dollar's (NZD) ranking came at a time of heightened foreign exchange volatility, COVID-19 restrictions, changing interest rate expectations, rising commodity prices and geopolitical tensions following the Ukraine crisis, a senior central bank official said on Friday.
The New Zealand Dollar (NZD) has fallen to be the 14th most traded currency globally from the 10th, according to a global survey compiled by the Bank of International Settlements (BIS) released on Friday.
"While being overtaken by some of our peers in a volatile period, the New Zealand dollar continues to trade with a disproportionate frequency relative to the size of the New Zealand economy," said Karen Silk, assistant governor and general manager of economics, financial markets and banking at the New Zealand Reserve Bank.
The triennial survey took place in April and involved central banks and other authorities in 52 jurisdictions and more than 1,200 banks and other dealers.
The NZD had held the 10th spot since 2010, but has been overtaken by the Singapore dollar, Swedish krona, Korean won and Norwegian krone respectively, according to the survey. ■