Pound's at it again
Nov 13th 2008, 7:42 pm
#1
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Thread Starter
Joined: Sep 2006
Posts: 4,298
Pound's at it again
Bloody hell!! The £/$ had dipped below $2.60:curse:
Will it EVER return to the late $2.80s one wonders?
The £ is very weak by all accounts and the kiwi being weak too does not seem to matter atall. Its still a very bad time to be changing £s to kiwis.
Any thoughts anyone. I understand the UK economy is really stuffed from what I have gleaned.
Will it EVER return to the late $2.80s one wonders?
The £ is very weak by all accounts and the kiwi being weak too does not seem to matter atall. Its still a very bad time to be changing £s to kiwis.
Any thoughts anyone. I understand the UK economy is really stuffed from what I have gleaned.
Nov 13th 2008, 9:10 pm
#2
BE Enthusiast
Joined: Apr 2007
Location: Wellington
Posts: 367
Re: Pound's at it again
Just been talking to Big Sis on skype about this as they are thinking of making the move, i didn't realize it was $2.58 to £ at the moment. Then she informed me that its on the news that BT are going to lay off 10,000 workers in the UK, things are not looking good. Me thinks we moved at the right time. OH works in telecoms.
Nov 13th 2008, 9:23 pm
#3
Forum Regular
Joined: Dec 2007
Location: Singleton, NSW
Posts: 160
Re: Pound's at it again
Bloody hell!! The £/$ had dipped below $2.60:curse:
Will it EVER return to the late $2.80s one wonders?
The £ is very weak by all accounts and the kiwi being weak too does not seem to matter atall. Its still a very bad time to be changing £s to kiwis.
Any thoughts anyone. I understand the UK economy is really stuffed from what I have gleaned.
Will it EVER return to the late $2.80s one wonders?
The £ is very weak by all accounts and the kiwi being weak too does not seem to matter atall. Its still a very bad time to be changing £s to kiwis.
Any thoughts anyone. I understand the UK economy is really stuffed from what I have gleaned.
Nov 13th 2008, 10:53 pm
#4
BE Forum Addict
Thread Starter
Joined: Sep 2006
Posts: 4,298
Re: Pound's at it again
I am surprised that the pound has ever been "strong" in the last 10 years. The UK has not had a manufacturing trade surplus since I was 3 years old and I am rapidly approaching middle age. The current account has not had a surplus since the '80s I think. Probably the only thing that keeps it anything near strong is the selling off of assets to wealthy foreigners.
I have a forward contract with Hifx at $3......yeah right..when hell freezes over!!!
Nov 14th 2008, 1:09 pm
#5
Galaxy 1: Cadbury's 0
Joined: May 2005
Posts: 1,606
Re: Pound's at it again
It'll get there. Be (stay) positive!
If I'm not mistaken, NZ has officially been in a recession for longer than the UK's economic woes.
Nov 14th 2008, 1:22 pm
#6
Forum Regular
Joined: Nov 2007
Location: Sunnynook, North Shore, Auckland
Posts: 104
Re: Pound's at it again
chin up everyone, it was very low in March when we came for our recce.
Say with me: the NZ dollar is one of the most volatile currencies in the world
Did it work? Did I cheer you up...?
Thought not
Say with me: the NZ dollar is one of the most volatile currencies in the world
Did it work? Did I cheer you up...?
Thought not
Nov 15th 2008, 12:02 am
#7
BE Enthusiast
Joined: Jan 2004
Location: JAFAland, NZ
Posts: 747
Re: Pound's at it again
Bloody hell!! The £/$ had dipped below $2.60:curse:
Will it EVER return to the late $2.80s one wonders?
The £ is very weak by all accounts and the kiwi being weak too does not seem to matter atall. Its still a very bad time to be changing £s to kiwis.
Any thoughts anyone. I understand the UK economy is really stuffed from what I have gleaned.
Will it EVER return to the late $2.80s one wonders?
The £ is very weak by all accounts and the kiwi being weak too does not seem to matter atall. Its still a very bad time to be changing £s to kiwis.
Any thoughts anyone. I understand the UK economy is really stuffed from what I have gleaned.
Nov 16th 2008, 4:44 am
#8
---
Joined: Jun 2007
Posts: 2,994
Re: Pound's at it again
Quite! I need to repay a (small from family) loan and will end up paying heaps more if it doesn't get down soon. I'd like 1:2 
Nov 16th 2008, 2:39 pm
#9
BE Enthusiast
Joined: Mar 2007
Location: Nelson Bays/Abel Tasman NZ- my Utopia
Posts: 632
Re: Pound's at it again
We were intending buying property last year but it dipped so low we would have lost thousands on the purchase. (NZ$ 26532) Maybe it was an omen because houses everywhere are dropping in value.Despite it being a beautiful one it was OTT on price, so we'd have shelled out our savings and been stuck with a house well below what we'd paid for it. See- there's a good side to most things!
It's not really a case of moving currency around in all instances.
You probably will get your pension from NZ- won't be wanting anything from UK- that's fine- but when your only income are pensions from the UK a difference of .3 (ie 2.8 to 2.5) in the NZ$ rate can result in an annual deficit of over NZ$ 13,000. I guess that's why some of us have to keep an eye on it. I know you can pre-book a rate through HiFX for up to 2 years but I'm wary- especially after HBoS et al.
Now this here strong NZ$
It's great for my son's when they come over to visit!!
Saves us having to sub them quite as much Another positive side to it.
It's not really a case of moving currency around in all instances.
You probably will get your pension from NZ- won't be wanting anything from UK- that's fine- but when your only income are pensions from the UK a difference of .3 (ie 2.8 to 2.5) in the NZ$ rate can result in an annual deficit of over NZ$ 13,000. I guess that's why some of us have to keep an eye on it. I know you can pre-book a rate through HiFX for up to 2 years but I'm wary- especially after HBoS et al.
Now this here strong NZ$
It's great for my son's when they come over to visit!!
Saves us having to sub them quite as much Another positive side to it.
