NZ dollar falls against peers on Wednesday amid threatening drought

The currency of New Zealand depreciated against most of its major counterparts amid speculation a worsening drought bothering the country will have an impact on the economy and force the Reserve Bank to maintain its interest rate at a record low. New Zealand's dollar dropped 0.2% to 82.51 per U.S. Dollar and it fell 0.6% to 78.96 yen, at the same time it touched the weakest level against the Aussie since January 30 at NZ$1.2535.