Two casualties of the current economic slowdown we see in China are the dollars belonging to our friends down under, the Australian and New Zealand dollars. Since the middle of last summer, the Aussie has fallen by 26% and the Kiwi by 28%, so in the race that neither probably wants to win, right now New Zealand is slightly ahead. Great news for buyers of those southern hemisphere dollars though, as this year the USD goes a lot farther down under than it did last year.
The New Zealand currency is in the news again as it has broken below .70 to the US$, making new 5 year lows in the process. It makes a visit to The Shire just that much more affordable right now for anyone based in US dollars. The Australian dollar has fared better recently, though that just means it hasn’t fallen as fast in recent months.
P.S. For those unaware, “The Shire” reference above refers to the re-creation of the fictional place where parts of Tolkien’s “The Hobbit” and “The Lord of The Rings” trilogy took place, as a movie set in New Zealand where they were filmed.