Persephone

Yes I'm waiting for it to rise again but I can afford to wait it out. Having changed half my savings at 2.85 in March, I have seen the rate drop since then and have no intention of changing any until it goes up again. Didn't change them all as they were tied up in a term account. I'm hoping the rates will go up before I need the cash [plans are afoot for next year!] and surely it can't stay this low for another 7-8m???
I used Halo to change my funds and found them very good. Just checked my emails one day to find that the Dollars had been bought and I had to then pay for them! You say what amount you want transferring and at which rate and it is done automatically once that rate is reached. The exchange rates are generally higher than banks as well and you keep your money in your own account until the exchange occurs. Halo do not require any cash until the dollars are bought

chocolate cake

Yep, no doubt that's right against the UK GBP, I was referring to the Kiwi$ value against a typical basket of currencies is little above it's historical norm. Well that's what I read in the the previous w/end's NZ Herald.

teambwr47

Well I've been a fan of 'the stronger the dollar the better' for a while as it makes the money we all earn here go further on the world stage. Unless you wish to stay in NZ for ever and never travel anywhere outside NZ, the weaker the dollar is, generally the worse off we all are.

The company I work and many many others import stuff to NZ and the imports are based on the $US/$NZ rate (also recovering well just now) so our business is currently recouping some of the losses we suffered when the $NZ dived down the loo....

My dilemma is that we also now have quite a bit of cash we're looking to transfer so I join those looking for a good rate to get the best possible sum of money here....

How do we all engineer a sharp but brief spike in the £/NZ$ rate that we can all take advantage of.....

Hothouse

Hi all

Always makes interesting reading everyone's take on when the dollar is going to move back up and what market factors are going to influence any movemnet. I'm no expert, so just check everyday.

i was lucky early in the year and opened an account with ANZ and got 2.8 with HiFX. I've just checked and the account is still giving me 3.15%, which is better than anything instant access in the UK. I am also looking at putting the rest into a more long term savings plan in the UK.

The Jezzers

Hi we are in the same boat, We have decided to exchange just what we need for the next month and leave the rest with HIFX waiting for a rise in the Dollar. So it looks like we will be renting a house for the next year,then I think we will buy when the money is better. I HOPE!

hosebergine

same as us - £20k brought over to get us a car, living costs for 6 months etc and all prospects of buying a house on hold until teambwr47 engineers a spike and the rest follows

Genesis

Well it finally got there! Its hovering around $2.4098 just now. Does anyone buy at this rate??? Its not been this low for 12 years!!!!!!!!!!!!!!!!!!

Anyone got a prognosis? I know all about crystal balls but sometimes there are those who have knowledge of the long/medium and short term range of certain currencies.

The reserve bank chair keeps saying how the strong kiwi is REALLY bad for NZ and that it is WAAAAAAAAAAAAAAY too overvalued but it still keeps gaining momentum. What is occuring?

Jan n Neil

Changed at 2.361 to day with Halo

As above done 20 K UK for a car ect did 5 last week slightly higher to get the bank up and running, Nothing else is moving till it goes at least 2.5/6


So whats the thinking what rate are we all hanging on for

Neil

alchris

so how did the packing go? you still holding up

I WOULD BE HAPPY WITH 2.60- mind you havent even got the funds yet, so who knows what may happen in the next 6 months.

GOOD LUCK and safe journey
Chris x

zoglet

2.39!! 2.39!!!!

Jan n Neil

Yup it,s a pisser innit

The thinking is that it,s going even lower

terrier2

I heard that there are so many NZ ers coming home from the UK and that the rate is so low they will not change their money untill the rate changes, a guy at the bank told me that the goverment is looking closley at this and that they will not allow the rate to stay like this for too long as they want the money in the NZ economy.
It makes sense to me so I think we wont have to wait to long, Im hoping not anyway!

The Jezzers

I agree, I just know it will get better everyone should stay positive.Hang in there guys.

hosebergine

I'm thinking of just changing it. The issue isn't just the $ but also the weak £ and news just looks dire on the latter. Our money can work harder over here by actually getting interest and enabling us to buy a property, particularly with prices forecast to rise as a result of supply pressures.

chocolate cake

Yep, $2.38 is a killer that's for sure, but can it get worse still? it can there's no doubt. Regarding another post earlier I doubt a couple of hundred or thousand or so returning NZers from the UK will have much effect on the UK GBP/NZ$ exchange rate.
Also I don't think the property market in NZ is suddenly going to be shooting up. There's more properties coming on the market now, but related to earnings they are still at a historic high level.

It ought to be the ideal time to introduce a capital gains tax on non residential homes like virtually every other country already has. No doubt though those that make the decisions have no interest in voting for such a tax as no doubt they already have second & subsequent homes.