Exchange Rates?

Old Sep 14th 2005, 1:55 pm
  #1  
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Default Exchange Rates?

For those of you that have already made the move over to NZ, but have left the bulk of your money here waiting for a better rate of exchange,

What sort of rate are you waiting for?

and

How long are you prepared to wait?

Just curious, because I know the $ is on a high, but it has been for some time, (last few months) and its not shifting much either way.
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Old Sep 14th 2005, 5:05 pm
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Default Re: Exchange Rates?

I remember my first trip to NZ back in November 2000. I got $3.25 for the pound.
Would like it to head that way again but would be happy with $2.80 plus. Here's me dreaming.
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Old Sep 15th 2005, 8:08 am
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Default Re: Exchange Rates?

Originally Posted by England Girl
I remember my first trip to NZ back in November 2000. I got $3.25 for the pound.
Would like it to head that way again but would be happy with $2.80 plus. Here's me dreaming.
While no one has a crystal ball that can tell us exactly what exchange rates are going to do my understanding is the New Zealand dollar will start to decline over the next few months and even over the next 1-2 years. But it will probably happen very gradually so you will be waiting for a long time....and certainly doubt you'll get over 3 for the pound in the next few years.

2.80+ is probably a good target which should happen towards year end.

I have it worse - wanting to send money to NZ but earning US Dollars...USD worth begger all!
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Old Sep 15th 2005, 10:53 am
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Default Re: Exchange Rates?

2.80+ is probably a good target which should happen towards year end.
I hope your right, we're not going to be there until the begining of next year, so that would help to boost our finances.

Some people have been there for a while and I was just curious as to what figure they had in mind and how long they would be prepared to wait.
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Old Sep 15th 2005, 11:18 am
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Default Re: Exchange Rates?

Originally Posted by planty
I hope your right, we're not going to be there until the begining of next year, so that would help to boost our finances.

Some people have been there for a while and I was just curious as to what figure they had in mind and how long they would be prepared to wait.
We've signed up to HIFX, they've advised leaving our house deposit here and they'll keep an eye on the rate for us for a few weeks, if they think it's likely to go up a few decimal points they'll advise us in time for us to get the money to them. We'll need to take some with us though as we'll have a house to furnish. Real shopping! Been cyber shopping for so long I've forgotten how to do it in person. I'm sure I'll soon get the hang of it though!
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Old Sep 15th 2005, 11:21 am
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Default Re: Exchange Rates?

Originally Posted by bookemjano
We've signed up to HIFX, they've advised leaving our house deposit here and they'll keep an eye on the rate for us for a few weeks, if they think it's likely to go up a few decimal points they'll advise us in time for us to get the money to them. We'll need to take some with us though as we'll have a house to furnish. Real shopping! Been cyber shopping for so long I've forgotten how to do it in person. I'm sure I'll soon get the hang of it though!
What's HIFX?

Ok found it. thanks

http://www.hifx.co.uk/

Last edited by planty; Sep 15th 2005 at 11:28 am.
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Old Sep 15th 2005, 12:15 pm
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Default Re: Exchange Rates?

Originally Posted by planty
What's HIFX?

Ok found it. thanks

http://www.hifx.co.uk/
Nigel, when I get home I'll PM you the number of the guy at HIFX who's working with us, I'm in work now (I use the term loosely, they've given up on me!). He's really helpful and not at all pushy.
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Old Sep 15th 2005, 9:33 pm
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Smile Re: Exchange Rates?

[QUOTE=bookemjano]Nigel, when I get home I'll PM you the number of the guy at HIFX who's working with us, I'm in work now (I use the term loosely, they've given up on me!). He's really helpful and not at all pushy.[/QUOTE

Hi, Any chance you could pm me his name/number too please? I view HIFX everyday and they look good?

Cheers,
Mark
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Old Sep 15th 2005, 10:22 pm
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Default Re: Exchange Rates?

sorry, can't see much change for some time. The main bank held interest rates here yesterday but warned that they may go up in future I believe the trend is down in the uk which certainly would not aid the exchange rate. Hope i am wrong we left cash at home would be nice to transfer at a better rate.
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Old Sep 16th 2005, 1:50 am
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Default Re: Exchange Rates?

I spent months tracking the ex rate and got so fed up in the end that just took whatever was on offer on that particular day and called it 2.5 in my head to calculate prices of stuff in NZ.

Just getting to NZ was the important bit for me - worrying about ex rates was just another thing that I decided not to do.
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Old Sep 17th 2005, 10:30 pm
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Default Re: Exchange Rates?

Nightmare trying to predict which way it will go. The problem is that BOTH the NZD and the UK pound are likely to fall over the medium term. Net of this is that you might not see much difference at all.

I don't expect the NZD to move much until Q2 06 - as that is perhaps the earliest at which rates might now decline.

The pound is looking a bit dodgy due to the rapidly accelerating bad news coming out of the UK. It fell against every currency going last week simply because retail sales figures did not improve (despite the last int. rate cut). If you think UK rates will rise then it might pay to wait. If you think they will fall then go for it now IMO. If interest rates are lowered in the UK then, for me, that would be a very good sign to cut and run very quickly indeed.

If you are unlucky you could wait for ever only to find the pound going down just as quickly (if not faster) than the Kiwi... not the result you would want.
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