Stormer999

Exchange rate is climbing nicely Any Guru's know why

TommyLuck

I'm a not a guru, but it could be something to do with Fonterra's expected below par forecasts coming up later in the week, or something like that.

I'm keeping an eye on it, as I've worked out I'll get better interest on my cash if it's in NZ.

2.1 would be ideal, but I'd take 2.08 and would consider 2.06 if/when things start dipping again.

Stormer999

Looking at the major currencies it seems to be sterling that is dropping. Yes 2.1 would be nice....

Pom_Chch

I must say I'm loving petrol being at $1.99/litre, lowest I've ever seen it. Onwards and upwards

TommyLuck

I've seen petrol at $1.92/l at some places in Auckland!!

When I arrived in July 2013 it was $2.26/l - quite a shaving.

mickey_d

$1.86 in Hastings today.
Wouldn't be surprised if it was back up to $2.10 though for the holidays.

Bo-Jangles

Petrol has been $1.89 at lots of places around here for a few weeks and I'm keeping well topped up cos no doubt like the price of salad and stawberries it will skyrocket the closer it gets to the holidays.

Tom H

I've seen petrol down to $1.85 last year and it hovered around the $1.89 mark in 2012. Quite nice for the few months of summer before winter came in and it went to the $2.30 area. Made the commuting costs a bit easier

Not liking the currency rate for the pound v dollar. I hope the dollar returns to the 53/54p area for August next year when I return to see my nephews.

Snap Shot

So do I. It was 50p for a dollar when we turned up in NZ in 2011, albeit that was the retail bank rate. In March 2012 it reached the dizzy heights of a dollar buying 56p. Only people poised to make the transaction of buying GDP with NZ dollars would have made use of that.

John Key wants to keep the dollar low to keep kiwi jobs and to keep the NZ export market competative. Do Prime Ministers always get what they want ?

Anyway

chocolate cake

Difficult to see the NZ$ dropping too much further at the mo, despite alot of bad news floating around, as interest rates are good few% higher than rest of dev world. It was a foolish decision to raise 'em so quickly (relative to elsewhere) at the start of the year, and indicate they'd be rising still further with 'experts' advising people to jump onto 3 and 5 year fixed mortgage rates.
Strange how those experts have gone quiet since, with many banks looking to lower the rates on those longer term deals now.

Would be good to see the NZ$dollar dive still further relative to the GBP, it was 3 to 1 when I came here in 08, and I've got some money to move bank at some stage.

GeorgeMartell

Chocolate Cake - next year potentially could be a bad time for you to move money back to the UK. Political uncertainty and the interest rates being moved back another year. GBP will likely lose ground on most currencies.


<wee snip>

janeyk

petrol is 1.88 in Torbay and Oteha valley one of cheapest north of bridge and 12p a litre cheaper than Mairangi bay!

Hazelnut

Whilst bad news for some this is good news for MrH and I, thanks for posting and giving us some hope in a month where we've had nothing but bad news.

TommyLuck

I should've taken heed of this ...

Will hold on to see what happens post general election in the UK.

I'm likely to be in need of my £'s in the second half of 2015, so I do hope that things get back above 2:1.

Snap Shot

Fingers crossed for you Tommy.

I banked eighty quid earlier this week so the exchange rate was in my favour. Each pound purchased 53p.

Trying to buy sterling with nz dollars just now would not be a pleasant experience. However, election in Britain this year.