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The average kina exchange rate depreciated against the US dollar by 112 basis points to US$0.3797 over the month to 27 th February 2015, mainly reflecting high demand for foreign currency. Over the same period, the average kina exchange rate appreciated against the Australian dollar by 251 basis points to AU$0.4870, due to cross-currency movements as the Australian dollar weakened against the US dollar. This follows the 25 basis points cut in the cash rate by the Reserve Bank of Australia on the 4 th of February 2015 and the continued recovery in the US economy. The average Trade Weighted Index (TWI) 1 increased by 0.41 percent to 38.80 over the month to 27 th February 2015, reflecting the appreciation of the kina against the Australian dollar and other major currencies outweighing the depreciation against the US$ (Chart
Economic Activity Global economy continued to grow at a ...
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