Today, the New Zealand Dollar dropped to its lowest level since February, as anxious investors sustained to dodge out of investments that they considered as perilous.

The NZ Dollar slid as low as US68.27c but found support and went up at US68.55 by 5pm. However, this is less than US69.50c yesterday.

Commentary from Reserve Bank of New Zealand Governor, Alan Bollard regarding the nation's exposure to the fiscal instability worsened already pessimistic feeling.

BNZ Strategist, Mike Jones said that the NZ Dollar looked moderately weak during the whole day.

The real jerk to the NZ Dollar's turn down was a move on Tuesday by Germany's market watchdog to prohibit so-called naked short-selling of Eurozone Government debt and shares of main fiscal firms.

It was viewed as an endeavor to fortify control of wobbly markets. Mr. Jones said that the markets smelt only of trepidation.

He said, "We have seen risky assets right across the board sold heavily and the NZ Dollar was no exception".

Dr. Bollard said that the viewpoint for New Zealand's monetary system has enhanced over recent months, as the economy recouped.

At the release of the latest Financial Stability Report this morning, Dr. Bollard said nevertheless, the worldwide monetary markets remain weak.