Falling NZ Dollar
Aug 20th 2003, 8:42 am
#16
Here in Dunedin
Joined: May 2003
Location: Dunedin
Posts: 1,975
Originally posted by Roger
Thanks for the advice folks. Agree in 2000 I would have had only 50K and in 96 a negative 19K on the housing market. Will no doubt start grinning when the house completes.
Smithone's idea is quite novel - not sure I've the guts though. Any tax implications? Also on the short term if we hate it and plan to move back (yuk) will not have lost anything! Complicated or what.
Roger
Thanks for the advice folks. Agree in 2000 I would have had only 50K and in 96 a negative 19K on the housing market. Will no doubt start grinning when the house completes.
Smithone's idea is quite novel - not sure I've the guts though. Any tax implications? Also on the short term if we hate it and plan to move back (yuk) will not have lost anything! Complicated or what.
Roger
Each time you move money you incur transaction costs, either commissions or the built in margins the bank/money changers use to make their profits.
Smithone's strategy has another flaw. If you move the money back to Uk, the rate may not move back in your favour, it could go the other way. Imagine if you will, if Blair and Brown decide to go into the Euro. Most pundits think they would want a still lower pound before then.
By moving money back and forwards you expose yourself to additional risk. Most of us are unhappy about trying to get the timing right on one cross currency movement, let alone 2 or 3.
Thats my 5.4c worth (2p)
Aug 20th 2003, 6:08 pm
#17
Forum Regular
Joined: Jul 2003
Posts: 41
I got a small amount of holi money today and the rate was only $2.55 to the £
Aug 20th 2003, 8:38 pm
#18
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Joined: Apr 2003
Location: Nelson Nz
Posts: 322
So how do we get the best exchange rate? I check the rat on Reuters website but again when I recently transfered a small anount from the Uk the rate was lower than this. I know the bank makes cgarges for this servise but the atual exchange rate was lower, just wondered what suggestions people had?
Cheers Tori
Cheers Tori
Aug 20th 2003, 11:43 pm
#19
Forum Regular
Joined: Feb 2003
Location: Auckland
Posts: 161
Originally posted by southerner
I wouldn't recommend this idea, no matter how novel.
Each time you move money you incur transaction costs, either commissions or the built in margins the bank/money changers use to make their profits.
Smithone's strategy has another flaw. If you move the money back to Uk, the rate may not move back in your favour, it could go the other way. Imagine if you will, if Blair and Brown decide to go into the Euro. Most pundits think they would want a still lower pound before then.
By moving money back and forwards you expose yourself to additional risk. Most of us are unhappy about trying to get the timing right on one cross currency movement, let alone 2 or 3.
Thats my 5.4c worth (2p)
I wouldn't recommend this idea, no matter how novel.
Each time you move money you incur transaction costs, either commissions or the built in margins the bank/money changers use to make their profits.
Smithone's strategy has another flaw. If you move the money back to Uk, the rate may not move back in your favour, it could go the other way. Imagine if you will, if Blair and Brown decide to go into the Euro. Most pundits think they would want a still lower pound before then.
By moving money back and forwards you expose yourself to additional risk. Most of us are unhappy about trying to get the timing right on one cross currency movement, let alone 2 or 3.
Thats my 5.4c worth (2p)
The commission side of things is minimal the big risk is that you move your money back to the UK and the rate stays the same and you need to get it back to NZ. There is an opportunity to make reasonable sums of cash if you ballsy enough to play the market. I've just bought a house so my cash is tied up so I'm not tempted anymore.
Aug 21st 2003, 6:37 am
#20
Forum Regular
Joined: May 2003
Posts: 234
Apparently their are a couple of sets of figures being released next week that *might* impact the exchage rate -
On Wednesday 28th the NZ Trade Balance Figures are due out & on Thursday 29th the NZ Purchasing Price Index is being released.
Let's hope it impacts it in the right direction!
Ben
On Wednesday 28th the NZ Trade Balance Figures are due out & on Thursday 29th the NZ Purchasing Price Index is being released.
Let's hope it impacts it in the right direction!
Ben
Aug 26th 2003, 9:43 pm
#21
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Joined: Apr 2003
Location: Nelson Nz
Posts: 322
Looks like it might be doing just that
Monday $2.71/£1
Tues $2.72/£1
Today $2.73!!!
Back to $3.00 would be really good!!
Tori
Monday $2.71/£1
Tues $2.72/£1
Today $2.73!!!
Back to $3.00 would be really good!!
Tori
Aug 26th 2003, 9:51 pm
#22
Forum Regular
Joined: May 2003
Posts: 234
I spoke to Halewood this morning and they said that the fact it had not dropped below 2.70 was a good sign and they expect that it should get back up to 2.75 in the next few weeks. They weren't confident that it would good much beyond that.
I must stress that this is merely speculation and there is no way of knowing what is going to happen. You must do your own research...
Ben
I must stress that this is merely speculation and there is no way of knowing what is going to happen. You must do your own research...
Ben
Aug 26th 2003, 9:52 pm
#23
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Joined: Mar 2003
Posts: 730
Originally posted by TIZUS
Aug 26th 2003, 10:10 pm
#24
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Joined: Apr 2003
Location: Nelson Nz
Posts: 322
Hi Gra
We are off to a couple tonight!! Watch ashow on Tv last night, Typical property show "lets do a place up and see how much a mug will pay for it coz we painted it!" - You know the kind! thet auctioned the place at the end in the back garden .....seemed a very laid back affair with the auctioneer cracking jokes! Not really what I was expecting.
Will keep you posted!
The weather is awful here at the mo hasn't stopped raining for three days! and now I don't want to know how warm it is over there thanks!!
Tori
We are off to a couple tonight!! Watch ashow on Tv last night, Typical property show "lets do a place up and see how much a mug will pay for it coz we painted it!" - You know the kind! thet auctioned the place at the end in the back garden .....seemed a very laid back affair with the auctioneer cracking jokes! Not really what I was expecting.
Will keep you posted!
The weather is awful here at the mo hasn't stopped raining for three days! and now I don't want to know how warm it is over there thanks!!
Tori
Aug 26th 2003, 10:21 pm
#25
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Joined: Mar 2003
Posts: 730
let us know how it goes, sounds like good fun!
hey, does hubby know that Pompey are top of the premiership?? That should cheer him up.......not!
Cheers, Gra...
hey, does hubby know that Pompey are top of the premiership?? That should cheer him up.......not!
Cheers, Gra...
Aug 26th 2003, 11:27 pm
#26
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Joined: Apr 2003
Location: Nelson Nz
Posts: 322
He hates football !!!
but as he comes from Portsmouth I'm sure he will take great pleasure in ribbing me about it....
Cheers Tori
but as he comes from Portsmouth I'm sure he will take great pleasure in ribbing me about it....
Cheers Tori
Aug 27th 2003, 8:38 am
#27
Here in Dunedin
Joined: May 2003
Location: Dunedin
Posts: 1,975
Originally posted by Ben.M
I spoke to Halewood this morning and they said that the fact it had not dropped below 2.70 was a good sign and they expect that it should get back up to 2.75 in the next few weeks. They weren't confident that it would good much beyond that.
I must stress that this is merely speculation and there is no way of knowing what is going to happen. You must do your own research...
Ben
I spoke to Halewood this morning and they said that the fact it had not dropped below 2.70 was a good sign and they expect that it should get back up to 2.75 in the next few weeks. They weren't confident that it would good much beyond that.
I must stress that this is merely speculation and there is no way of knowing what is going to happen. You must do your own research...
Ben
Fingers crossed of course!!
Aug 27th 2003, 10:52 am
#28
Forum Regular
Joined: May 2003
Posts: 234
Looking good today at a high of 2.7580. Let's hope the upward trend continues...
Ben
Ben
Aug 27th 2003, 10:17 pm
#29
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Joined: Apr 2003
Location: Nelson Nz
Posts: 322
Ok In danger of sounding dumb but.... Can anyone explain the benifts in using a foriegn exchange company obviously you should get a better exchange rate, but what are the risks involved? How do they make their money? Has anyone any first hand experience of using a company? I have been looking at Halewoods?
Please excuse my ignorance never had to deal with anything much more than a few pounds pocket money before!!
Tori
Please excuse my ignorance never had to deal with anything much more than a few pounds pocket money before!!
Tori
Aug 28th 2003, 12:03 am
#30
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Joined: Apr 2003
Location: Nelson Nz
Posts: 322
just checked exchange rates again ....
now 2.77 or .36 depending which way you look at it!
Could we reach the dizzy heights of 3:1 again????
heres hoping
Tori
now 2.77 or .36 depending which way you look at it!
Could we reach the dizzy heights of 3:1 again????
heres hoping
Tori