According to the recently made announcement by the Reserve Bank Governor Alan Bollard, he has requested the people in New Zealand that they should not be over pessimistic towards the high rate of the New Zealand dollar.

It is to be mentioned here that the NZ dollar has been moving around the US80c level during the recent weeks while the Australian dollar was able to reach parity with the weak US dollar.

It may be noted here that Bollard was facing the parliamentary finance and expenditure committee wherein he was pressed by a couple of MPs over the high value of the NZ dollar against the US dollar.

Moreover, Bollard also got some suggestion on the fact that it is time for the RBI to intervene so that the impact on the NZ dollar is lower. Labour's finance spokesman David Cunliffe mentioned that the last moment when the value of the NZ dollar was close to the US80c market, the central bank intervened and sold the currency and later purchased it back booking a profit. Moreover, he also asked that is it a right time to do such intervention once again.