The New Zealand Dollar rises before the New Zealand elections

22.09.2017 / 16:10

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The 2017 New Zealand general election will take place on Saturday 23 September 2017 to determine the membership of the 52nd New Zealand Parliament. The previous parliament was elected on 20 September 2014 and was set to expire on 10 October 2017 if not dissolved earlier. It was dissolved on 22 August 2017. New Zealand uses the Mixed Member Proportional (MMP) voting system, which gives voters two votes: one for a political party and one for their local electorate MP. Parties receive seats in Parliament in proportion to their party vote share.

The New Zealand dollar jumped 1% on Wednesday after a new study was published, according to which the ruling National Party can only rule after the September 23rd general elections.

Kiwi rose to a daily average of $ 0.7372 against the dollar, the most solid level in six weeks.

The study, published by ONE News Colmar Brunton, has a national, center-right party run since 2008, which is 6 percentage points at 46%. The main opposition party Trud has fallen by 7 percentage points to 37%.

The largest of the minor parties is the Green Party, with 1 percentage point - 8%. NEW ZEALAND First, which seems likely to maintain the equilibrium of power after the election, fell by 1 percentage point to 5 per cent, taking advantage of the 5 per cent threshold required for re-entry into parliament.

Electorate boundaries in the 2017 election will be the same as at the 2014 election. There are 64 general electorates, 48 in the North Island and 16 in the South Island. Boundaries are due to be redrawn in 2019, after the 2018 census.

Shamebel Eakb, an economist with Sense Partners, told that the dollar of New Zealand has risen up and down the voices that were "everywhere" in the elections before Saturday's election.

Source: Bloomberg Pro Terminal
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The New Zealand Dollar rises before the New Zealand elections

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