Reserve Bank blew over $700 million trying in bring down dollar

Reserve Bank sold $702 million to force down Kiwi dollar – 06 Aug 2007 – NZ Herald: New Zealand Business and Personal Finance News

The figures are staggering!!!

The Reserve Bank has effectively burned up almost three quarters of a billion dollars in its futile attempts to bring down the dollar. Cullen and Bollard should resign immediately following these revelations.

Three quarters of a billion dollars wasted, this is nothing short of criminal waste. How many years of Herceptin would this have funded?

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