Jan n Neil

it hit 2.4 tonight on HiFX market watch - yes I'm trying to stay awake

We did our sums on 2.5 but at least it's not so crap as last week -2.34 at its worst.

Tip: I think if you are transferring money NZ to the UK you better move now. Hopefully for us emigrees to NZ anyway

127luton

Thanks for the heads up Jan and Neil
xxx Berni
xxx

GinnyB

Unfortunately, for me anyway, the NZ$ has strengthened again. I'm looking at houses and my bottom line is getting lower and lowere!!!

adamlt1972

No offence, but what makes you so sure the rate is n't going to head back above 2.5, where it was a few months ago? Historically its been at or above that level, and got up to towards 2.9 a year ago.
For all us amateurs second guessing this is so difficult, especially in these turbulent times. From what I've been reading the drop in rates last month had something to do with dairy prices being so good for NZ farmers, yet when more good prices for NZ farmers came out this week the rate went the other way and moved up above 2.4.

Jan n Neil

My original post said that I think it IS going back up - except for today , hence if you are transfering money from NZ to the UK you should do it soon, as 2.5 (+) would be worse for you, that's what I meant



and therefore anyone with funds in the Uk waiting to transfer will benefit from a rise to 2.5+

adamlt1972

Ok, apologies, but its just so difficult to tell what's going to know what's going to happen with it that I've given up trying to guess the situation.
If the stories currently circulating about the relative speed of the economic recoveries are anything to go by, then you'd expect interest rates to rise in NZ first, and therefore the rate to drop even further, but the change in rates over the past couple of days seems to say otherwise.

GinnyB

I've decided to stop looking at the exchange rates until I've got a date to fly!

adamlt1972

I've been trying to ignore it ahead of needing to transfer money next year when I want to buy a house down here, but I cant look at the BBC website without checking it out.