The increase in share markets also increased the prices of the New Zealand Dollar, as it touched US73c level and the Australian Dollar also increased in price.

The New Zealand Dollar reached US72.82c from US72.18c on Friday. Meanwhile, the Australian Dollar reached a three month high of US90.88c, as compared to US89.99c on Friday.

Experts feel that the price of the New Zealand Dollar has recovered and it has been boosted by the strong increase in the rate of the Australian Dollar.

The New Zealand currency has fell due to the volatility in the market and after the New Zealand Governor had raised concerns about the state of the economy. The increase in the official cash rates was by 25 basis points and it also put pressure on the New Zealand Dollar.

The Chinese purchasing managers' index (PMI) fell for the third straight month and reached 51.2 from the earlier 52.1. This is also expected to have an impact on the price of the New Zealand Dollar.

But, the decline in the unemployment rate from 7.1% to 6% managed to surprise everyone in the market.

Experts still feel that the price of the New Zealand Dollar has not improved, as compared to the Australian Dollar. The Australian Dollar has also fared much better, as compared to the U. S. Dollar.