Justcol

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

Genesis

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.

pestman

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

Persephone

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

Kentish Lass

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

Genesis

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

chocolate cake

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.

teambwr47

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.

chocolate cake

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.

Genesis

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.

pestman

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

Justcol

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

nelsonpom

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

Justcol

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

pestman

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