Secondly, although the New Zealand dollar has been subject to quite marked fluctuations over the last few months, by and large the New Zealand dollar is not a volatile currency by the standards of other floating rate currencies.
Certainly measured on a tradeweighted basis, the New Zealand dollar has in recent years been less volatile on a week-to-week basis than, say, the Australian dollar, the US dollar, the pound sterling, or the Japanese yen. BIS Review 78/1997  -2-  What about the longer-term trends?