What's with the NZ$ exchange rate?
Nov 20th 2003, 10:14 am
#1
BE Enthusiast
Thread Starter
Joined: Sep 2001
Location: Berkshire, UK
Posts: 470
What's with the NZ$ exchange rate?
It's been plummetting recently, at 2.64 this morning. Does anyone have any idea why the NZ$ is so strong at the moment?
It is not as important once you're over there (although imports will cost more) but it makes getting over there much more difficult. I'm $70,000-$90,000 down on when I started this whole process, when the exchange rate was 3.1. If it doesn't recover within the next few months, it could seriously damage our prospects of emigrating. Or at least make us completely rethink our settlement plan.
This morning, it was the only currency in the Asia Pacific region that the pound was down against. And it was down well over 2 cents.
Maybe it's a good thing overall, but I dearly need the rate to rise significantly.
It is not as important once you're over there (although imports will cost more) but it makes getting over there much more difficult. I'm $70,000-$90,000 down on when I started this whole process, when the exchange rate was 3.1. If it doesn't recover within the next few months, it could seriously damage our prospects of emigrating. Or at least make us completely rethink our settlement plan.
This morning, it was the only currency in the Asia Pacific region that the pound was down against. And it was down well over 2 cents.
Maybe it's a good thing overall, but I dearly need the rate to rise significantly.
Nov 20th 2003, 10:28 am
#2
BE Enthusiast
Joined: May 2003
Location: Exit UK 23rd Mar 2004, arriving in NZ 29th Mar (stop off LA Disney)
Posts: 385
Re: What's with the NZ$ exchange rate?
Originally posted by sofistek
It's been plummetting recently, at 2.64 this morning. Does anyone have any idea why the NZ$ is so strong at the moment?
It is not as important once you're over there (although imports will cost more) but it makes getting over there much more difficult. I'm $70,000-$90,000 down on when I started this whole process, when the exchange rate was 3.1. If it doesn't recover within the next few months, it could seriously damage our prospects of emigrating. Or at least make us completely rethink our settlement plan.
This morning, it was the only currency in the Asia Pacific region that the pound was down against. And it was down well over 2 cents.
Maybe it's a good thing overall, but I dearly need the rate to rise significantly.
It's been plummetting recently, at 2.64 this morning. Does anyone have any idea why the NZ$ is so strong at the moment?
It is not as important once you're over there (although imports will cost more) but it makes getting over there much more difficult. I'm $70,000-$90,000 down on when I started this whole process, when the exchange rate was 3.1. If it doesn't recover within the next few months, it could seriously damage our prospects of emigrating. Or at least make us completely rethink our settlement plan.
This morning, it was the only currency in the Asia Pacific region that the pound was down against. And it was down well over 2 cents.
Maybe it's a good thing overall, but I dearly need the rate to rise significantly.
Uk move rate up, NZ I believe, left rate the same,and yet still the £ is weakening.
NZ is an exporting economy, so businesses must want the $ to weaken as a prolonged high $ is going to hurt.
Anyone got any ideas
Nov 20th 2003, 11:25 am
#3
(Jon) returning to NZ 04
Joined: Jul 2003
Posts: 816
http://www.nzherald.co.nz/latestnews...section=latest
don't understand all this really...... but weak US$$ seems to have been the biggest influence over the last year or so.
I could have this around the wrong way, but I have feeling that if they cut interest rates, then that weakens the NZ dollar, which is good for exporters. but then that fuels housing boom & debt, and fears of a crash means they want interest rates to remain steady or go up, which is bad for exporters... (who probably can't afford their nice new expensive houses and then go bust!)
Dunno - that analysis could be completely wrong - but if I have it right - it's a bit of a catch 22.
don't understand all this really...... but weak US$$ seems to have been the biggest influence over the last year or so.
I could have this around the wrong way, but I have feeling that if they cut interest rates, then that weakens the NZ dollar, which is good for exporters. but then that fuels housing boom & debt, and fears of a crash means they want interest rates to remain steady or go up, which is bad for exporters... (who probably can't afford their nice new expensive houses and then go bust!)
Dunno - that analysis could be completely wrong - but if I have it right - it's a bit of a catch 22.
Nov 20th 2003, 11:45 am
#4
Banned
Joined: Feb 2003
Posts: 3,467
I hope the $ weakens against the £ before we go, we will have to leave our money in the hands of a foriegn exchange company otherwise and they can trasfer the bulk of our money when the exchange rate is better
