Most importers and exporters prefer dollar value of $US90¢-$1 Most importers and exporters say their ideal level for the dollar is between US90¢ and US100¢, a private survey has found, as the local currency remained weak before a start to US Federal Reserve's reduction of its stimulus program. A quarterly survey by Citi and East & Partners found that almost 58 per cent of Australian import and export businesses favoured the dollar to remain in its present range. While businesses with turnovers of more than $500 million a year and export-oriented firms preferred the dollar to be below US90¢, smaller companies and importers preferred the currency to be above parity against the US dollar. "The companies sampled in the survey were reflecting a view of the status quo, with the exchange rate around US90¢ to parity, rather than wanting large changes," Citi's chief economist, Paul Brennan, said. The message is that companies have to deal with whatever the exchange rate is. We might like it to be lower or higher but, in reality, we have to live with what it is, and it is going to be determined largely by global factors. The Citi Trade Finance Index survey of 876 Australian businesses came as the local currency softened on Monday, as the start of the Fed's first tapering of its unprecedented monthly bond-buying program loomed. The dollar fell close to its year low on Monday, trading at US88.34¢. It was buying US88.49¢ in late trade. "In terms of the various options to boost the economy, probably the one which is more out of line with the long-run average is the Australian dollar," Mr Brennan said. If you look at interest rates, we are way below average, and if you look at budget deficits, they are quite high relative to the long-run average on the budget. The survey also found that New Zealand was the top destination for Australian exporters during the next quarter, at 68.8 per cent, ahead of China at 65.3 per cent. The rest of the Asian region was third at 47.1 per cent. In contrast, the US and western Europe were less favoured as export markets, declining slightly since the previous quarter. "The trend for New Zealand to be seen as an important trading partner is set to continue, with growth driven by the consumer, retail and healthcare industries," said Citi's treasury and trade solutions head, Scott Southall. Mr Brennan said the preference for New Zealand reflected Australian businesses' expectations that there would be increased opportunities across the Tasman as the country's economy picks up next year. "It's going to be one of the strongest-growing developed economies [in the world]," Mr Brennan said. Consumer spending is very strong, the housing recovery is much more advanced than in Australia, incomes are going up, and ... it's geographically close. I guess a lot of Australian businesses are hoping that they can tap into that growth in New Zealand.