Re: GBP crisis...yawn
 

Its gotten sooooooooo bad now I won't be changing a cent..rather Kate won't. Innit funny $2.30 is looking sexy now..as I am sure $2 will be looking sexy in 2 weeks time? Those with GBPs who do NOT need to change up (ie are set up over here) are betwixt a rock and a hard place really.

If you have to change up for your new kiwi life you have little option. I have to say thay we missed the $3.80's of 2002 and only got $2.64 in March 2005 and we were happy. But then again we were getting a 10 year median. Just now this is a rock rock rock bottom low. They say it will go lower if the people in the UK don't vote correctly. I only ever voted con. once..I would do it a 2nd time now..only because Brown and Co have seemingly ruined GB PLC with a little help from some old conservatives in adminisration of old.

Re: GBP crisis...yawn
 

under 2.1 :eek: 2.094
:cry_smile::cry_smile::cry_smile:

Total car crash
Dewb

Re: GBP crisis...yawn
 

I´m changing my view, it is not a simple car crash.

It is more like a car being stolen and joy-ridden to destruction by careless yobs who don´t care what damage they cause...:eek::eek::eek::frown:

Re: GBP crisis...yawn
 

Hi, sold our house april 09, moved 98% of the money to a savings account in N.Z may 09, before we even started the immigration process, as we could see then where the uk was heading, and if my numbers came up on the lotto (if i did the lotto) i would move 90% to N.Z or even look into other foreign currencies (avoiding the us dollar and euro) I would put my money in N.Z, even if you just wanted to make a few pound as the pound will drop more, it will rise too,but that would take 2-3 years.

Re: GBP crisis...yawn
 

About the tax, the Bank will take it off themselves when they pay the interest. Say, the rate is 5% (gross) then I think you can expect around 3.5 -4.00%net. As you say, still better than the UK.

Re: GBP crisis...yawn
 

Well, got sick of waiting and tired of seeing the GBP fall, so yesterday we transfered the remainder of our GBP over to NZ with HIFX.

Looked at the rates from last 2 weeks and by waiting that long it has cost us $1000. But, each month on our ANZ savings account, which has half the amount we are actually going to transfer from the UK, we are making $30 interest each month, compared to a whopping 1.17GBP per month back home, so though sod it we would bring it over.

End of the day yep back in 2000 it was 3.0 GBP/NZD and 9 months ago it was 2.5 GBP/NZD, but thats in the past. Yes we only got 2.092 but it still gives us a sizable chunk to start out life with in NZ which I'm happy with.

I didn't want to make the mistake of waiting like we did with Oz, listening to all the experts on financial sites, money updates etc all of which said that the exchange rate would get better so hold of as much as you can. We couldn't wait so exchanged and got 2.3 GBP/AUD at the time, where if we had waited like everyone suggested we would get 1.59 GBP/AUD now.

End of the day, at least I can stop looking at bloody exchange rates every day and get on with everything else. Money transfers are probably more streseful than the visa app eh! :)

Good luck to everyone else still waiting to exchange.

Re: GBP crisis...yawn
 

Make sure you do stop looking at the exchange rates in case it does go up..........although I'm pretty sure if you do look you'll just be feeling relief that you changed when you did, coz it'll be even worse than now!

Re: GBP crisis...yawn
 

Oh I won't look again. Didn't with the AUD until recently and super happy that we exchanged when we did with that.

Theres always ifs/buts/maybes in life and yep, at some point the exchange rate will go up, but it will also come down. Can only do whats right at the time at the end of the day.

Don't see if going back to 2.5 anytime soon though.

Re: GBP crisis...yawn
 

except, of course, for the 10mins before we change our money and the 5mins after. Just so we get the best possible :rofl::rofl:

Re: GBP crisis...yawn
 

Off course :)

Re: GBP crisis...yawn
 

More good news about the UK regarding retail sales....yet it still slumps!!! I was talking of the GBPs crisis at the weekend and some believe this just might (only might mind) be the bottom of things. They said the worlds banks would not let the pound go much lower...because if the pound does devalue much more there will be a very BIG knock on effect on other currencies and the fragile global economic state. The pound is still a very important player in the scheme of things.

It's interesting that $2.10ish is the lowest its been..we saw it slip to $2.08/2.09 but it always rallies at this point. Only time will tell if it slumps below $2. I appreciate the lowest it ever went a few years ago was around 2.3/2.4 so this is BAD. But the UK does seem to be picking itself off the floor. I doubt if the great british quid will ever be great again but I do believe it will recover given a few years. Sad for those yet to bring over their lump sums but you can only do with what the rate of the day is offering unless you chose to postpone the move.

Re: GBP crisis...yawn
 

Meanwhile as the not so good news on the NZ front filters thru'...bit of a spat with the IMF.......talk of our credit rating going down (we are spending waaaaaaaay too much) and the chinese taking over our dairy industry et al and the kiwi $ continues to increase in value...WTF?????

Re: GBP crisis...yawn
 

I swear all these forex traders spend there days sacrificing chickens and chanting black magic as nothing that happens with exchange rates ever seens to make sense does it!

Freaky coincidence as well, but had an email from a friend in the UK just who said he has just booked a holiday to Florida and noticed the exchange rate in the UK for USD is 1.41 at the moment! Jeez, when I went on holiday there last in 2008 I think it was near enough 2.0!!

Not particularly happy to transfer at 2.09 like we did yesterday but like you said, you can only do what you can on the day. I've been bitten once and lost $11,000 on a GBP/AUD transfer, but if I had waited and done it 12 months later we would have lost nearly $28,000. Didn't want that to happen again :(

But sods law does say now I've done it, I'll turn the news on one morning and it'll be NZD CRASHES, POUND RALLYS TO RECORD HIGH! :)

Re: GBP crisis...yawn
 

I got shafted 20 years ago AU $ v GBP...again in 2005 with NZ $ V GBP. And a few times since. It matters not what I do it always goes agin my favour. Finance companies and the exchange rate...my double nemesis. Triple bollocks:eek:

PS forgot to mention also lost quite a few bob on the NZ $ V US $. Bought high sold low..thanks Hanover Finance.:eek::eek::eek::eek:

Re: GBP crisis...yawn
 

Money sucks doesn't it !

<talks to wallet quietly....its ok, don't worry, i still love you> :)

Re: GBP crisis...yawn
 

Yes it does. I am sure things were waaaaaaaaaaay easier when I was in my twenties with little money. I suppose I could give it away..but we don't do we? Well I do sponsor a child in India and give to charities but I am not about to give away what is left of my kids inheritance..simply because I want them to have a wee bit of a kick start in life. Some billionaires leave nought to their kids..I made it with nothing..so will you.

Re: GBP crisis...yawn
 

The GBP has bounced a wee bit..could it be the start of the worm turning? Probably not aye? But I still have my money on the kiwi devaluing rather than the pound strengthening. Mind you with interest rates on the rise in Oz how long before they start edging up here?? Alas that will fuel the value of the kiwi$$. Bollocks.

Re: GBP crisis...yawn
 

See, all it took was for me to exchange and now it starts going up. Knew that would happen! :)

Re: GBP crisis...yawn
 

The GBP has just jumped to 2.1464! Had I changed what I was going to last week at 2.10 means $2k at the rate just now:eek::eek:.

Re: GBP crisis...yawn
 

Oh well, such is life :(

Re: GBP crisis...yawn
 

Mate I have been looking like your avatar for quite a few months because I cancelled a large order for GBP at $2.85 because I thought (like others) it was going to 3. As we all know it went to 2.10 and below. Took a huge hit on that. As you say life is like that. I have never ever come out well from any fiscal transaction EVER (save for my houses in the UK..ownership one at a time I hasten to add).......however not the NZ one which has been a HUGE money pit. Be it investment, endowment, FX, shares or ought. That's why I never play the markets and keep what little I have left safe.

Re: GBP crisis...yawn
 

WOW that is a big hit you took, dam! :(

Fingers crossed for you then with the rate going up!

Re: GBP crisis...yawn
 

Pound up to 2.15 plus- highest its been for a while.

Yet, its up over a bank holiday weekend when the currency market is closed.

Iv noticed this happens alot- the rate is at its best when I can't get at it- typically over weekends- anyone any ideas why this might be?

Re: GBP crisis...yawn
 

The reason the kiwi has taken a hit today is because of the IMF's comment that it is about 25% overvalued..I think we have all known that for ages...duuuuuuh. It will be hit further apparently when the US treasury starts hiking OCR rates. Which will be sooner than later. The prospect for the kiwi in the short term is apparently reasonable BUT it is thought it will lose value in the medium term.

Re: GBP crisis...yawn
 

You can read about the IMF report here, and the full report is here

With the NZ dollar said to be between 10% and 25% overvalued, this could be fantastic news for those of us yet to buy dollars. :thumbup:

Re: GBP crisis...yawn
 

How long has this been stated tho? (overvalued) It seems like ages and just like wishful thinking.......................

We need it to be back at about 2.6 so we dont lose out (we changed money from pound to kiwi when it was 2.8 and then changed back at 2.6. So wish we'dve changed it again even at 2.5 so we couldve got the mega low rates on offer now - we so missed the boat)

Re: GBP crisis...yawn
 

Unless something drastic happens I would think it would be a while before it hits 2.6 again.

When we changed to Oz at 2.2 people were telling us it won't be long till it hits 2.5 again so should wait. It kept falling and 12 months later its 1.6.

Change when you need too I say.

Re: GBP crisis...yawn
 

I would agree that it's likely to be a long and slow process. At best it will probably take many months to reach that level again. At worst, it may never get there. However, I hope it will improve gradually.

I haven't sold my house yet, so I'm not ready to change any currency. In my case, it will hopefully work in my favour, but I really feel for everyone who is ready to buy dollars now.

Re: GBP crisis...yawn
 

Some seem to have held a view for quite a while that the dollar is overvalued. However, the IMF report was only published this week, so that might help affect confidence and prompt the value to start correcting.

Re: GBP crisis...yawn
 

Yep, lets hope the IMF report about the kiwi $ being overvalued to the tune of upto 25% proves correct.

It's hardly rocket science there's been little hard evidence to back up the high value of the NZ$ for some while. It's not as if the high interest rates here can be said to have had an effect, they've been higher for ages, even when the NZ$ was trading at $2.70 to the UK GBP.

There's seems to be a general view that the GBP is being over discounted too, so at last there's at least some hope for a postive movement in the exchange rate for those wanting to move funds to NZ.

Re: GBP crisis...yawn
 

hmm maybe im missing the point here?

Im no money expert but have to say I hope it drops to below 2 as that makes a trip back to the UK much more realistic for those of us wanting to return for holidays/family visits.

Why should I care about it going down further when I earn and have nothing but kiwi dollars to my name?

Again sorry if this misses the point but so what if you only get 2 for 1 as heck its still buy one get one free in my book!

the 3 for one days will never return and like cheap milk and bread are a thing of the past.

we moved here six years ago and got 2.66 and all we started with was $75k dollars no pension or savings or massive profit from a house sale yet here we are still making it work.

we would have still come even if it was below 2 as moving here was a dream come true.

all the best from the pest!