THE Fiji dollar strengthened against the US, Japanese and Australian dollars during the month of September but weakened against New Zealand and the Euro by -2.3 per cent and -1.4 per cent respectively.
Over the year, the local currency had strengthened against the Euro by 9 per cent, the US dollar by 3.6 per cent and the Japanese Yen by 4.7 per cent but depreciated further against New Zealand and Australian dollars by 4.2 per cent and 3 per cent respectively. The figures quoted in the Reserve Bank of Fiji's economic review for the month ending September 2012 noted the nominal effective exchange rate (NEER) index fell over the month of September by 0.1 per cent.
An increase in this index indicates a slight appreciation of the Fiji dollar against the basket of currencies and vice versa. "(This) indicated an overall depreciation of the Fiji dollar against its major trading partner currencies."