The Bank can deal in foreign exchange to help it achieve its objectives. You can think of foreign exchange as trading money from one country for money from another country. The Bank can do this with anyone, including the government, and it can also do this on behalf of anyone, including the government. The Bank gets to decide the terms and conditions of these deals. This means the Bank chooses how it wants to make these trades. The Bank's ability to deal in foreign exchange is subject to section 134. This helps the Bank manage its responsibilities. The Bank has to follow the rules set out in the legislation. This is an important part of how the Bank operates.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287182.
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For the purposes of furthering 1 or more of the Bank’s objectives, the Bank may deal in foreign exchange, on the terms and conditions that it thinks fit,—
This section is subject to section 134.
