Exporters are suffering as the Kiwi dollar soars against the American dollar and the Euro.
The New Zealand dollar hit a two and half year high against the US currency today.
Westpac Chief Economist Dominick Stephens says risk currencies around the world are rising on the back of positive comments made by China on the state of their economy.
Mr Stephens says this is good news for holiday makers and online shoppers buying from the States, but bad news for exporters.
"For those exporters not enjoying very high prices with their products, for example those who export manufactured goods, the high New Zealand dollar is a bit of a headwind and makes it harder for them to compete in the global market."