Currency

Old Jun 16th 2015, 3:20 pm
  #31  
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Default Re: Currency

For anyone coming over in the next few years, is it worth keeping a few UK pounds to try and reduce the OUCH factor if trips back to the UK are needed?
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Old Jun 16th 2015, 8:07 pm
  #32  
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Default Re: Currency

Originally Posted by Hazelnut View Post
For anyone coming over in the next few years, is it worth keeping a few UK pounds to try and reduce the OUCH factor if trips back to the UK are needed?
we have kept our UK bank accounts, just in case and makes life easier for purchasing from UK and presents.
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Old Jun 16th 2015, 9:16 pm
  #33  
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Default Re: Currency

Originally Posted by Hazelnut View Post
For anyone coming over in the next few years, is it worth keeping a few UK pounds to try and reduce the OUCH factor if trips back to the UK are needed?
Please make sure your bank will support a NZ address. My bank decided to close down my account when I arrived in NZ so I had to open a Lloyds Offshore account. My wife's bank is quite OK with her living in NZ. But yes as Mrs F says useful for sending flowers and chocs...
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Old Jun 16th 2015, 10:21 pm
  #34  
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Default Re: Currency

2.2399 just now. And a 7th consecutive drop in global milk solid auction prices indicates that another OCR drop will come much sooner than later. Source of the latter is www.interest.co.nz

Excellent site for all things fiscal and the health of NZ PLC.

Another drop in the OCR will further reduce the value of the kiwi. Next decision will come 23rd July re the latter. One man said about 2 weeks ago 'dump your kiwis now!!' That was at about 2.12 ish. Seems he was right. That 2.44 that was mooted by another expert looks more than likely now. Who would have thought it eh?

Last edited by Genesis; Jun 16th 2015 at 10:27 pm.
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Old Jun 16th 2015, 10:24 pm
  #35  
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The extra $'s my army pension has gone up by is great, but I suppose it will get swallowed up by dearer petrol and pricier imported consumer goods?
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Old Jun 17th 2015, 12:10 am
  #36  
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Originally Posted by Mark Smith View Post
The extra $'s my army pension has gone up by is great, but I suppose it will get swallowed up by dearer petrol and pricier imported consumer goods?
Yip, gas went up to 2.08 today. TVs will be more expensive too. Fortunately we don't need one of them every 3 weeks like a tank of fuel!!!! This is wonderful news for people changing their pounds for kiwis, very, very bad news for those doing to opposite. I feel for anyone who is just about to emigrate/return to the UK and needs to change their life savings.
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Old Jun 17th 2015, 1:13 am
  #37  
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Default Re: Currency

Originally Posted by Genesis View Post
This is wonderful news for people changing their pounds for kiwis,
Swings and roundabouts, fair do's and all that.


very, very bad news for those doing to opposite.
It's a bit of a bugger, it has to be said.

I feel for anyone who is just about to emigrate/return to the UK and needs to change their life savings
.
Awkward.
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Old Jun 17th 2015, 1:15 am
  #38  
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Default Re: Currency

Originally Posted by MrsFychan View Post
we have kept our UK bank accounts, just in case.
Me too.
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Old Jun 17th 2015, 2:46 am
  #39  
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Default Re: Currency

Originally Posted by MrsFychan View Post
we have kept our UK bank accounts, just in case and makes life easier for purchasing from UK and presents.
Yes, me too. I use my brother's address over there.
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Old Jun 17th 2015, 5:13 am
  #40  
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FYI $2.2446 now. The kiwi shows no sign of abating its fall.
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Old Jun 17th 2015, 5:17 am
  #41  
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flippin eck.... this is kelling me... still have a few grand in the UK though, might shift some over on a gradual basis.
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Old Jun 17th 2015, 6:43 am
  #42  
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Jumped to 2.11 (petrol). Good job we drive a teeny weeny swift.
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Old Jun 17th 2015, 7:45 am
  #43  
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Default Re: Currency

Originally Posted by Mark Smith View Post
Jumped to 2.11 (petrol). Good job we drive a teeny weeny swift.
Just gone to 2.2512!!! And I just paid 1.96 for a litre at my local Caltex witha 6 cent rebate on my Caltex card...how ever the tanking dollar means its got a 4 cent hike tomorrow.
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Old Jun 17th 2015, 12:05 pm
  #44  
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Default Re: Currency

Hi as I said earlier this is a very tricky subject as every situation is different , but things will normalise as Wheeler wants currency to normalise and quickly to save farmers etc. NZD to USD is still about 10% overvalued with a rate of maybe 0.62 possible and the Gov hoping for a long term rate of around 0.65. Now if you flip this to Sterling as kiwi rate comes down and BOE rise rate gradually from maybe next spring the currencies will normalise. This would possibly put GBP v NZD back within the 2.40 zone.
The only window you may have to get a better NZD rate to GBP is as we approach the EU referendum which will weaken sterling on the run up and after if we vote to leave.

Like myself you have to pick a rate you happy with when it hits it take it. You be very hard to pick the exact peak and trough.

Cheers

Kev
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Old Jun 17th 2015, 6:51 pm
  #45  
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[QUOTE=Stgeorge6;11677387]Hi as I said earlier this is a very tricky subject as every situation is different , but things will normalise as Wheeler wants currency to normalise and quickly to save farmers etc. NZD to USD is still about 10% overvalued with a rate of maybe 0.62 possible and the Gov hoping for a long term rate of around 0.65. Now if you flip this to Sterling as kiwi rate comes down and BOE rise rate gradually from maybe next spring the currencies will normalise. This would possibly put GBP v NZD back within the 2.40 zone.
The only window you may have to get a better NZD rate to GBP is as we approach the EU referendum which will weaken sterling on the run up and after if we vote to leave.

Like myself you have to pick a rate you happy with when it hits it take it. You be very hard to pick the exact peak and trough.

Cheers



Has reached over 2.27 over night, it now sits at 2.2649. The EU referendum it not until the very earliest May 2016 and possibly will not be held until late 2017. Greece looks likely to exit the EU. I wonder if this will affect the pound?

Last edited by Genesis; Jun 17th 2015 at 6:53 pm.
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