Currency
Jun 16th 2015, 3:20 pm
#31
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Joined: Apr 2013
Posts: 567
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?
Jun 16th 2015, 8:07 pm
#32
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Joined: Oct 2011
Location: Wellington - I miss Castles, the NHS & English school system
Posts: 9,077
Re: Currency
we have kept our UK bank accounts, just in case and makes life easier for purchasing from UK and presents.
Jun 16th 2015, 9:16 pm
#33
Life is what YOU make it.
Joined: Oct 2009
Location: Christchurch
Posts: 3,312
Re: Currency
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...
Jun 16th 2015, 10:21 pm
#34
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Posts: 4,298
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?
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.
Jun 16th 2015, 10:24 pm
#35
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Location: St Albans, Christchurch
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Re: Currency
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?
Jun 17th 2015, 12:10 am
#36
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Re: Currency
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.
Jun 17th 2015, 1:13 am
#37
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Joined: Jun 2010
Location: Peterborough, Cambridgeshire
Posts: 2,744
Re: Currency
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
Jun 17th 2015, 5:13 am
#40
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Re: Currency
FYI $2.2446 now. The kiwi shows no sign of abating its fall.
Jun 17th 2015, 5:17 am
#41
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Joined: Jul 2014
Location: Beachlands, Auckland
Posts: 229
Re: Currency
flippin eck.... this is kelling me... still have a few grand in the UK though, might shift some over on a gradual basis.
Jun 17th 2015, 6:43 am
#42
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Joined: Jan 2012
Location: St Albans, Christchurch
Posts: 586
Re: Currency
Jumped to 2.11 (petrol). Good job we drive a teeny weeny swift.
Jun 17th 2015, 12:05 pm
#44
NZ resident since 2003
Joined: May 2015
Location: Cranbrook,Kent
Posts: 22
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
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
Jun 17th 2015, 6:51 pm
#45
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Re: Currency
[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?
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.
