$2.13 = £1.00
 

What are the thoughts on this.
I know its reached $2.90 in 2007 and blipped upto $2.70 (for about 5 minuted)
in 2008 when its normal rate was around $2.45 but its been a steady decline since then.
I cant see it going back over $2.25 for a long time and i think the days of $2.40+ are long gone

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The kiwi is well over valued and the GBP is undervalued. There have been 4 excellent recent stimulants for the GBP re the economy. The US $ will put up its OCR soon and this will apparently put more pressure on the kiwi. If you don't need it now I would hang on. Kate has a large amount of GBP from an living will and as such every cent makes quite a difference. Having said ALL that the GBP could crash further tomorrow with a hung parliament hoving into view. No one knows aye? I have NO ide how the GBP rocked up sooooooooo strong until about a year ago. The UK has been in the shite for longer than that but all of a sudden the house of cards came tumbling down. Again however if you do not need the wedge why not hang on? The GBP has gone down to around $2.10 and been there for quite a while now...everything (most things anyway) have a bottom. This may well be the pounds arse. Had I done a quarter of Kate's money at 2.10 then seeing it rise in a few days to around $2.17 would have cost her $3500. If it can rise another 10 cents in 3 months thats another $5000 and so on. Of course it works the other way too and I cancelled an order for 30k GBP just over a year ago as I was confident (as were others) the GBP would tip the 3 mark. That like pearler cost us $22500. Bollocks.

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good news and long may it keep falling!

the further down it goes the better it is for all of us here earning,spending and without a slush fund of pound notes to fall back.

cheaper for the holidays back to the UK.

couldnt give a toss if it falls to $1 for 1.

Days of the pound note being worth alot are gone bit like the great in britain

george

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Ah but it's only good news for those who are planning on a holiday or permanent move back to the UK.

Not so good for those who have money to transfer over or are making that first move with cash from eg a house sale and want as much as possible to give them a better start.
Also those who have family who are planning on a visit-my Dad is on a pension and I'd like the exchange rate to be as high as possible for when he decides to come over;)

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....Or for the kids when their grandparents send over their birthday and Christmas money!

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Have y'all seen how knackered the euro is:eek::eek::eek: Just now 1.14 and rising!!!

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All entitled to opinion of course, but I'd guess you're in a minority.

'Slush fund of pound notes to fall back on' what cr&p, people hoping to bring monies from the UK to NZ have earnt their monies. Their entitled to hope for a decent rate to exchange it at.

For someone dissing the UK, what's the attraction of going back then? There's plenty of Great left in Britain.

Back on topic, the general opinion seems to be the NZ$ is overvalued by a minimum of 10%. The GBP's also taken a pummeling and looks like it might it get some of it;s discounted value back. Exchanging at $2.08 from a week ago wouldn't be a good decision with the current rate, I think it's unrealistic to expect $2.70 of last year in the near future, but there's certainly more upside to come IMHO.

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Yep, once you're here I couldn't agree more, the higher the dollar the better. Our wages are worth more on the world stage and imports which most people in NZ rely on get cheaper.

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Is there actually any solid evidence of imports getting cheaper? It's seems to be with the lack of competition, retailers just pocker the difference and don't reduce prices.
The only way imports are cheaper is if you go the trouble of importing yourself, which admitedly I do but on a small scale for the odd purchase.

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Our wages are worth more???????? We are still spending kiwi $$s in NZ. We are no better off at all. Petrol keeps on going up. Don't think for one moment you have any more money in your NZ pot because suddendly you are earning the eqivalent of 36k gbp rather than 28k gbp. Everything in NZ still costs the same..and in most cases a damn sight more. The overvalued kiwi is doing nothing other for than those who are cashing in and returning to the UK. And good luck to y'all. I would be delighted if I was selling kiwis. However I really do think you have had a good run and if I was returning to the UK I would sell every kiwi cent I had right now becasue i really think the tide will change sooner than later.

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hi chocolate cake

not sure im in a minority atall.

your opinion is valid for those thinking of moving here or those who have pound notes in the bank and are allready here but far from valid for us 'normal earn kiwi spend kiwi dollar types.

sorry but those thinking of moving here are still getting two for one which in my book is still great.

the 'slush fund' thing well those who came here several years ago had the option to take all that 'hard earned' you talk about and convert it into kiwi dollars back then but as is their choice they chose not to and decided to take a risk and keep it in the Uk now when rates have changed we should feel sorry for them? sorry not me as with anything relating to exchange rates the risk is there and your's to take.

Again I left the UK because for me the place IMO has gone to rat shit and lost the Great along time ago.But that dosnt stop the fact I have family back there to one day visit and hence will have to make the trip back to do just that.

One reason I left was down to the fact that many peoples attitudes reflected that of people who want everything for nothing and expect alot for no effort and that is reflected in the expecting huge dollar for pound returns and alike.

So again for me long may the pound rate fall as for us poor old ex pats living and earning the dollar here will be happy for it to do so.

george

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good for me as i send some back to my son who returned to the uk for uni.
shite for those coming or just arrived. people cant moan about GBP slush funds,
that money was worked for and earned plus it will be transfered in to the nz ecconomy.
the 5 minute blip after we exchanged at $2.60 and it then jumped to $2.70
cost me about $37000. It would have come in handy but you cant be bitter,
i'd set a rate and was happy at that so it was money that was never mine anyway

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Sorry mate can't feel sorry for you cos that means you brought over 370,000 pounds and should be just happy :p

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i didnt ask anyone to feel sorry for me, that was the point.
I dont feel sad or bitter, it is what it is. just as todays rate is what it is.
For all the talk of where the rate should be, it isnt.
Those who are hanging out for higher rates need to be realistic.
Its no different to me saying I'm not going to exchange unless i get 3 to 1.
I could sit and wait forever cos it aint going to happen.
The same goes for now, the 2.4+ to 1 rates are well behind us and i dont
think they will be seen again for a long long time.

It doesnt matter how much an individual brings, money does not bring or buy happiness.
Some of the happiest people i know are piss poor

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couldnt agree more colandros.

freinds we new came here with nearly $3/4 million dollars enough for a dream life here, they are now divorced,unhappy but surrounded by bling bling

we came here with $75k total (nz dollars) we are happy, not surrounded by bling have a $300k mortgage and so on and on.

Sure money helps big time here as it does in any part of the world as it does take away the stress of 'daily' living but to think just because you get 3 to 1 and end up with more rather than 2-1 and get less that you will be happy here is asking for trouble.

So hold out for an extra few dollars should you want but in the end it's the person inside that will make or break this move pack a bag full of money in one suitcase and all your issues in another and guess what those issues land with you and get un packed just as quick as your dollars get spent!

george

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Well said, money can become an obsession and I for one didn't move to NZ for financial reasons. Don't let life past you by just get on with it and make the most of what you've got :D

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Not everyone comes to NZ with lots of cash to spend. Some only have a reasonable deposit for another house. So it's rather unfair to think that all Brits are cash rich. Perhaps some have made it too well-known that they got a good price for their UK property and may have been taken advantage of by eager estate agents, but this is not the case now with houses prices falling in the UK. And they are falling no matter what the hype says.

As to the weak pound and high dollar. It's no use feeling smug that the rate is great for Kiwis going back to the UK. No country can survice long with an over-priced currency, especially one that needs tourism like NZ. Where are the tourists coming from if the dollar is too high? How long can folks keep their jobs that depend on tourism? Who will buy the houses if folks cannot afford to bring their money in? Think how much the exporters have to pay with this over-priced Kiwi dollar. No, nothing to gloat about here.

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Correct. The overvalued kiwi is shafting the country. It is not a good look and long term (if the kiwis value remains high) it will damage the economy. Unfortunately with interest rate hikes in the pipeline it could get stronger and a hung parliament in the UK could further weaken the old quid. Bad, bad, bad. Naughty dollar.

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again just dont see the $2 for one pound thing being that big of a tourism buster as again its stil 2 for one!

sell an average house in the UK and you still can get an average house here in NZ at that conversion.

Job loss from lack of tourists is more down to lack of money the world over and not becuase its 2-1 for the pound! heck its not just propped up here by visits from the people of the UK!

NZ is so small so isolated that in the end we will become an Aussie state and for me all I reckon is important is getting more in line with them than worrying about what the bloody UK rates are doing or how much poor old Mr smith n jones is going to loose on his hard earned pound not conversion!

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Highly doubtful we will become an Ozzie state in the near future OR distant, waaaay too much rivalry going on. Not going to happen in this generation. Re the kiwis value it will impact tourism as everything is 25% more as the kiwi is overvalued agin all currencies not just the pound. If people do come their cash only make 75% of what it would have made ergo the tourism business is missing 25% of its income. Look at the following example. Some one who has earmarked 10k GBP on a dream NZ hol will only be putting 20k NZ$ into the economy at the current rate. A year ago it would have been closer to $30k going back into NZ tourism coffers. So it is impacting and it will continue to do so until it finds a more realistic value.

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Tourism UK to NZ will be hit as hard as the Euro has done to GBP. Brits now look to travel to none Euro countries as buying in the usual haunts, Spain, Greece, Italy etc is so, so costly. The likes of Turkey are reaping the benefits as are the Brits that travel there. The other winners are of course the Brit holiday resorts. Tourism NZ is your biggest export with 2.1/2 million visitors every year, luckily the Rugby cup will help out 2011, however with the GBP/$NZ staying poor the situation will be bleak for 2012.:thumbdown:

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Tourism to NZ is worth 9 billion $s a year. More or less what our dairy market is worth. Anyone who thinks it ain't going to take a hit at the current forex rates is quite an optimist. It will be interesting to se what the figs are in a few months time.

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http://news.bbc.co.uk/1/hi/magazine/8612287.stm :eek:

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yep NZ does need tourism agreed.

But lets face it the world changes so NZ will need to go with the flow and adapt.

In the end wether its this lifetime or my daughters or their kids the aussie/NZ join will happen and for all of the reasons you state above.

What if tourism cuts in half? would NZ cease to be here? I think not I reckon we will do just fine and adapt.

Maybe i'm dreaming who knows but once things get to the doom and gloom no tourist point i'm sure the powers that be will sort it out.

Time to start digging up the land for all the gold and stuff we have here that might help a bit if we can get past the greenies dont ruin the land crap!

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Well as usual I was wrong! Apparently I have heard today that tourist visitor numbers are up. Bang goes my theory on the kiwi's strength having a negative effect on tourism. I'll get my coat.

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Woah there cowboy, before you go, I believe although the numbers may be up, they consist of low spending back packers. Because graduates can't get the jobs they want, they are loaning up and travelling waiting for the jobs to pick up. The higher spending ones I suspect aren't here.

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One hopes yer right cos that makes me less wrong. Which would be nice. I am afraid if have come round to all this talk of even at 2 for 1 you are up on the deal..and buy one get one free. Sod it, its only cash aye. I'd like to bring 50% of Kates money over now and get it behaving properly in the interest dept. Alas Kate still has her heels firmly stuck in the dirt. Onlt time will tell if she is right. Honestly whatever I am kind of past caring now. I have seen the light thanks to the comments from fellow posters.

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Thats what we did bringing over all our money a couple of weeks ago.

Better to be earning $125 per month interest sitting over here than earning 12quid in 1 year back in the UK!!!!