Exchange rate

Old Sep 6th 2010, 8:51 pm
  #1  
Just Joined
Thread Starter
 
Joined: Dec 2009
Posts: 7
rich hand is an unknown quantity at this point
Default Exchange rate

Will the exchange rate ever be near to $3NZ/£ again? Should it ever reach this level? What actually is the natural level for the $NZ against the £.

I am hoping that the pound grows stronger over the next couple of years but I can't help wonder if it has reached a new level against the $NZ and that $2.5NZ may be deemed high the future.

Don't suppose anyone on here is an economist and can enlighten me?!
rich hand is offline  
Old Sep 6th 2010, 9:11 pm
  #2  
BE Forum Addict
 
Genesis's Avatar
 
Joined: Sep 2006
Posts: 4,274
Genesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond repute
Default Re: Exchange rate

Originally Posted by rich hand View Post
Will the exchange rate ever be near to $3NZ/£ again? Should it ever reach this level? What actually is the natural level for the $NZ against the £.

I am hoping that the pound grows stronger over the next couple of years but I can't help wonder if it has reached a new level against the $NZ and that $2.5NZ may be deemed high the future.

Don't suppose anyone on here is an economist and can enlighten me?!
I am no economist but a keen follower of the kiwi since 2005. Back then the median for the previous decade was C$2.70ish. For the last year the GBP has been seriously weak and the kiwi correspondingly madly overvalued to the tune of as much as 30%. Those 2 together = a rather large train wreck for anyone with cash in the Uk that they want over in NZ. $3 is unlikely ever to happen again IMO for a very, very long time if ever. I think 2 yrs ago most of us were in a mind set of anything less than $2.70 was junk and you would only change cash at around $2.80 plus. I would exchange all our UK cash at $2.50 these days. I remain optimistic that $2.50 could return in the short term and with the amount we will be changing the diffo betwixt $2.12 and $2.50 is quite meaningful..infact for any amount it is meaningful. The $2.50ish has been mooted to return around Dec. 2010 time (one person said having been advised by an 'expert'..yeah right). You must remember that the kiwi is a hugely fickle currency and very, very volatile. It is (despite the its tiny size on the global currency mkt) one of the 10 top traded currencies because of the latter. People make lots of money out of it..and lose lots too (that'll be me). One thing is certain. No one knows really where a currency will be in any period with any great accuracy. If you wish to take the easy route just go to your preferred money trader and do a 'market order' for what you want. That means if you wish to wait until it gets to say $2.35 you tell your trader to buy as much as want at this juncture. It is done on a 24hr basis so you will not miss it (you may have to wait a while) but it takes the endless looking at markets out of your life. Unless you get off on that kind of thing!!!

Last edited by Genesis; Sep 6th 2010 at 9:14 pm.
Genesis is offline  
Old Sep 6th 2010, 11:09 pm
  #3  
Somewhere
 
BEVS's Avatar
 
Joined: Oct 2003
Location: Below
Posts: 34,843
BEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond reputeBEVS has a reputation beyond repute
Default Re: Exchange rate

Originally Posted by Genesis View Post
I think 2 yrs ago most of us were in a mind set of anything less than $2.70 was junk and you would only change cash at around $2.80 plus. I would exchange all our UK cash at $2.50 these days.
Same here.
BEVS is offline  
Old Sep 7th 2010, 12:25 am
  #4  
BE Forum Addict
 
Genesis's Avatar
 
Joined: Sep 2006
Posts: 4,274
Genesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond reputeGenesis has a reputation beyond repute
Default Re: Exchange rate

Originally Posted by BEVS View Post
Same here.
Oh for hindsight Bev? What a mug I was. How dumb I look now. No change there. One door shuts, another slams in me face. In money terms anyway.
Genesis is offline  
Old Sep 7th 2010, 6:41 am
  #5  
Forum Regular
 
Toon_Nut's Avatar
 
Joined: Sep 2007
Posts: 194
Toon_Nut is a name known to allToon_Nut is a name known to allToon_Nut is a name known to allToon_Nut is a name known to allToon_Nut is a name known to allToon_Nut is a name known to allToon_Nut is a name known to allToon_Nut is a name known to allToon_Nut is a name known to allToon_Nut is a name known to allToon_Nut is a name known to all
Default Re: Exchange rate

The recent quake will only strengthen the NZD, whereas people would of though it would weaken it due to extra unforeseen government spending. It will go the other way as it is bound to create more new contracts = more building orders = more jobs = more spending = stronger $.

But hey, what do I know!!??

($2.70 to the quid my the end of the week it is then!)
Toon_Nut is offline  
Old Sep 7th 2010, 9:15 pm
  #6  
Just Joined
Thread Starter
 
Joined: Dec 2009
Posts: 7
rich hand is an unknown quantity at this point
Default Re: Exchange rate

Good post Genesis, very helpful.
rich hand is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.