Background
Prior to 1985 the New Zealand Dollar was controlled centrally by the Reserve Bank of New Zealand at a fixed exchange rate to the United States Dollar. In early 1984 the Deputy Governor of the Reserve Bank, Roderick Deane, became concerned that the dollar had become significantly overvalued and was vulnerable to currency speculation on the financial markets in the event of a "significant political event".
Read more about this topic: 1984 New Zealand Constitutional Crisis
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