Genesis

Yes it looks like its heading for the lowest $2.20 it was back in the late 90's. Its utterly ridiculous and I am amazed that the NZ Reserve Bank has not done more to stop the kiwi's value getting so out of control. I feel sorry for those who feel they have to change up now, however those leaving NZ for other shores will be well happy!! I am in the process of tieing up my UK funds now for a minimum of a year.

I have found 3.7% for 12 months offshore with Allied Irish. I will not change a cent until it gets back to $2.75. If I have to wait 10 years so be it. On the positive side I have a nice little nest egg ticking over in GB that I cannot spend....money for the late autumn of my life!!

zoglet

Presumably these rates are going to start damaging NZexports are they not. Isnt the NZ economy export dependant? It canhardly do much to encourage inward tourism either can it?

Genesis

People will avoid NZ like the plague at these rates..correct re exports too. I am amazed its allowed to happen. I understand some of the problem is to do with the weak GBP BUT, the interest rates in Nz are so much higher than everywhere else thus making it a haven for investors..the more kiwi $ they buy the stronger it gets. No one is buying GBP just now thus its very weak.

I am amazed anyone would be prepared to change up anything more than a bit of pocket money at these rates..but I guess needs must and those who are about to start a new life can hardly put it on hold because of a shite rate.

Typical innit?? When it was over $3 back in early 2006 did I have any GBP..did I ****, and now that I have a wee bit to bring over its at these rates and stuck in an account earning .045%. That's less than one half of a %

Wooly_Cow

So I just got a note from my financial advisor this morning regarding exchange rates etc.

His companies view (OK so not necessarily correct lets face it everyone is getting it wrong so far) is;

S&P 500 index has another 5-10% growth in it and this is fuelling risk taking so supporting higher return higher risk currencies like the kiwi dollar.

However they forecast a bottom (or top) in Sept/Oct. with a return to 2.7/37p by early 2010. They do not forecast a return to 3/33p anytime.

Let’s see if they are right.

In the meantime I’m buying sterling at 2.38

Nice Guy

When we arrived in NZ some years ago, the NZ$ V's pound was at $3.37

Bugger, still got some dosh in the UK!!!

Black Sheep

Can anyone point me to a website that can give the historical exchange rates in a table or such going back for say 10 years or so?

mickey_d

Here's 5 years

http://uk.finance.yahoo.com/q/bc?s=G...=on&z=m&q=l&c=

Genesis

Or just look at HIFX's home page, go to 'marketwatch' top right hand corner and then look at 'historical data'..you change the currency by clicking on 'instrument' and the time line is on another one of those bars along side 'instrument'. It will give you right back to 1995.

greghal

The issue is that you are looking at the GBPNZD rate, they dont export to much to the UK, so the NZDUSD is key to exports.

It is a tough one, i think lots of people were lookig at 2.40 as a bottom, although Finanacial Advisors generally dont know more that you or I about Foreign Exchange

Hothouse

At the moment i'm hoping the value drops again and moving money back to the UK. Managed to get 2.80 in Feb. and can make a tidy profit if i move it back to the UK.

I think the NZ goverment will have to make a move shortly in order stop the $NZ dropping much further.

zaras dad

climbing ...you mean