chrisjb

i realise this is a bit of a boring topic, however has anyone else noticed how the £ has crashed against the NZ$

not great as I was planning on using money saved in Uk to get started...

currently NZ$2.1 to the £

Average (471 days): 2.60508
High: 2.87520
Low: 2.14800

Dewb09

Torture myself & watch it every day

Dewb

The Jezzers

We are renting until the rates go up, we just change what we need 2 weeks at a time. This waiting game could be a long one.

Dewb09

2.2 woohoo

Dewb

Genesis

Yea its being crashing for about 2 months now..but the demise appears to have stopped..for now. But who knows what monday will bring. The 10 year median is apparently around 2.70 ish..the kiwi is HUGELY over valued and whilst the US $ appears to be stuffed major long term (so the experts say) the GBP has a greater chance of regaining some of its value and I really believe it will. If it does not I guess it will be a painful time for those of us with wedge in blighty.

BUT NZ has many a problem of its own. The currency is hugely volatile and NZ is borrowing 250m$ a week. So its going the same way the UK is in terms of debt. The UK export industry is doing well outta the crap exchange rates which is nice. I would hang onand would not change up anything unless I really had to or like Jan and Neil I had a house to buy. Fortuitously it is only money at the end of the day. It comes and it goes. I reckon come the new year the kiwi will have weakened agin the GBP. Well that forecast spells doom for my money in the Nationwide aye??

chrisjb

who knows what's going to happen.
On the one hand you would expect UK government to want the pound to be stronger to reduce the relative value of foreign debt?
However with interest rates looking to stay at 0.5% in UK for the foreseeable future, not sure how £ will get stronger as noone will want to invest in it.
Ah well, will just see what happens in new year.

jennifer45

I'd rather read your forecasts than FedX
But when you say it's only money, whilst I agree the exchange rate is not a matter of life or death, it does have an almighty effect on those whose 'sole' income is from UK Pensions-
We never intended buying s soon as we arrived- always said we'd rent for at least 6 months - get a feel for different areas before opting for one to settle in.
But the shenanigans that the pound and the NZ dollar have been going through the last 8 months has been 'somewhat' worrying.
We changed 20000 in Feb and got 56000- we changed 20000 in Sept and were lucky to get 47000. NZ$9000 down on §20000- in 6 months and it kept on falling.
But it's all about timing !
Fluctuations happen.
The pounds been down before- the dollar has been strong before- it's just sods law that it happens to extremes when we get ""our dream come true Just like the housing market goes down the pan for vendors and we end up with the buyers from hell= again Sods Law!
Finally the weather- sorry folks but that's down to us as well. We always bring bad weather. It rained non stop in Madeira last Xmas whilst we were there and eeverytime we come to NZ the weather is 'unusually bad for the time of year'!
Hey I couldn't give a monkeys!
I'm here and I'm loving it.
Weather n all!

Dewb09

Well done for keeping such a sunny outlook

Have some positive Karma

Dewb

NakiMan

To be honest, most of the strength of the NZ$ (against the Pound and US$ at least) is due to the fundamental weakness of those currencies, rather that any intrinsic strength in the Kiwi

For example, there was an announcement last week that the UK economy is still in recession as at the end of September.. as a result the pound dropped from $2.20 to 2.16 in an hour !

The bloody banks have got a lot to answer for, haven't they

All we can hope for is that the UK economy picks up some time soon, but dont hold your breath.