The New Zealand dollar has risen against other currencies including the Euro and the British pound as the investors increased demand for the local currency.

The kiwi rose against the British pound and the euro following indications from central banks that the interest rates are expected to remail low. Investors are looking to acquire the New Zealand Dollar and other high yielding currencies.

The NZ dollar rose to 52.17 British pence, which is its highest level in a month. It touched 51.95 pence compared to its close price of 50.97pence in Wellington on Thursday. The currency also rose to 60.85 eurocents, which is its highest level in three weeks. It was trading at 60.67 cents compared to 59.87 cents.

European Central Bank president Mario Draghi has indicated that the lower interest rates are expected to continue for long whole the Bank of England has also said that the low interest rates are likely to continue.

The benchmark interest rates in Europe and the UK are at a record low 0.5 per cent while New Zealand's official cash rate is at 2.5 per cent. This has convinced investors to invest in high yielding currencies.

As against the US dollar, the currency rose to 78.35 US cents from 77.79 cents.