[lockstock]

On the up again - 2.80 and rising.

[willsken]

It's excitement time again..... may it be long lived! :clap

[Corbishleys]

I have got a market order with HIFX at 2.8 but I am not sure what the Interbank rates will have to be before i get my 2.8
Fingers crossed

[IanW99]

I have got a market order with HIFX at 2.8 but I am not sure what the Interbank rates will have to be before i get my 2.8
Fingers crossed

Well XE are offering 2.80458108 at the moment if that is any help?

Ian

[nippa&pippa]

2.82....I need it go up more to exchange christmas presents money :)

[walshy]

Ooh , when was the last time it hit 3? I really want 3.

[Tia Maria]

Ooh , when was the last time it hit 3? I really want 3.

Not long ago but it was literally a very quick spike and probably only those with money orders in would have caught it.

If you really want a certain value then fix a rate with a broker that way if it happens quickly, like last time, or just when you are asleep then it gets sorted for you.

I think 3 is the magic number for a lot of people but if you need the money soon then at the moment anything from 2.75-2.87 is good, anything from 2.87 to 2.95 is very good and anything above 2.95 is fabby.

Don't forget you can also drip feed the money over, but do allow for any fees.

Cheers

Tia

[walshy]

im not sure how all this works, opened a hifx account today online, will call tommorow

[femke]

Just been unformed you have to have above 20,000 pounds to exchange before you can fix a market rate:wah

[IanW99]

Just been unformed you have to have above 20,000 pounds to exchange before you can fix a market rate:wah

Who is that with?

You can certainly place a bid at a much lower value with XE.com

Ian

[femke]

That was with Hifx was on the phone with them this morning.

[gbFunk]

I've just had a similiar conversation.

When I set up the account, I was assured that I could set up these transfers at certain points - and it actually worked for my first trade when I got 2.80 on £5K a couple of weeks ago.

Just phoned HiFX this morning, and was told they could only do them for £30K or more - even though I did one last month for £5K.

They are investigating further, and will get back to me...

I'm trying to set up a transfer if they can get 2.85, and another (larger) one if it gets to 3.

Seems like HiFX might have changed the rules recently - or they agreed to do something to get my business which they don't usually do...

[IanW99]

...
Just phoned HiFX this morning, and was told they could only do them for £30K or more - even though I did one last month for £5K.
...


Well, I'm pretty sure that XE.com will allow much lower values than this, sure I placed a bid at £2000 recently and I suspect it will be as low as you want.

Ian

[victoria24]

if you want a more personal service try www.torfx.com

[walshy]

Hifx reckon its set to go down again!!

Haveny got the dough through yet to place an order, so annoying!!

[andrewp]

I got 2.74 this morning (Friday) on an amount of NZD3000. Seemed fair, but I couldn;t wait to see which way it would go. One trend I seem to have noticed is that the rate always seems to start low on a Monday and get better as the week progresses. Anyone else picked up on this?

[walshy]

So... any predictions? I have my money ready to go, tried to make an order today for 3.00 but chap at hifx said think again and take 2.80 as unlikely to go up any further, its a difference of about $6/$7 though, very frustrating

[IanW99]

So... any predictions? I have my money ready to go, tried to make an order today for 3.00 but chap at hifx said think again and take 2.80 as unlikely to go up any further, its a difference of about $6/$7 though, very frustrating

Only $6 or $7 dollars, not really worth waiting for :exit

The NZ$ does trend over 3 against the GBP over time, but who can say when this will happen, especially with the poor performance of the GBP at the moment.

If you need the money soon then 2.8 would be a reasonable rate IMO and if you are not careful you may get a lot lower.

If you don't need all the money at once, you could take a risk and move over what you need now and wait and see for the rest.

Ian

[walshy]

Thousand, sorry, 6/7 thousand!!!

[jmc]

:confused:We are in the same boat. We have money in an account waiting to be transferred but we are holding on for a better rate. We have also opened an account with HiFX.
The annoying thing is, the rate seems to be better of a night (when NZ is up and trading) yet HiFX only trade during office hours!!
Don't think we can hold on for much longer, in case it falls!!!
Decisions, decisions :confused:

[andrewp]

I've used Elldridge Lynch for a couple of trades now. I've found their support excellent www.elynchfx.com. They have a 24/7 trading room, but you can actually do everything online. No need to ever speak to them. Like most of them, you can enter a target rate that you want to try and get and the system/dealers will then monitor it for you. Worth a look!

[cappuccino]

:confused:We are in the same boat. We have money in an account waiting to be transferred but we are holding on for a better rate. We have also opened an account with HiFX.
The annoying thing is, the rate seems to be better of a night (when NZ is up and trading) yet HiFX only trade during office hours!!
Don't think we can hold on for much longer, in case it falls!!!
Decisions, decisions :confused:

You can call either the NZ office or the UK office during office hours to organise your exchange - well, that's what I do anyway!

[walshy]

going down, 2.71. boat missed i think, aarrrggh

[doowrehsij]

Hmmm, been bored at work today.. so thought I would do some GBPNZD charts! Hopefully, they may be of use to people!

GBPNZD - 2003-2008 (12 month overlay)
http://4.bp.blogspot.com/_zY57ri8IV4E/SUKUxyzYPhI/AAAAAAAAABo/u_PgHt2AIGc/s1600-h/gbpnzd-years.gif

GBPNZD - 2003-2008 Daily/Monthly mean average
http://3.bp.blogspot.com/_zY57ri8IV4E/SUKVADCGK5I/AAAAAAAAABw/NR5Yyd7ZJH8/s1600-h/gbpnzd-avg.gif

GBPNZD - 2004-2008 Monthly High/Low (adjusted)
http://1.bp.blogspot.com/_zY57ri8IV4E/SUKVFN0oC4I/AAAAAAAAAB4/9IvQT2EOOgg/s1600-h/gbpnzd-highlow.gif

[walshy]

Jesus, 2.61 now, damn

[jambo]

They're talking about the UK following the US lead and slashing interest rates again so it looks like the pound will suffer! Wonder if we'll be looking back in a month or two saying 'if only I'd got $2.60'.

[walshy]

2.57

[doowrehsij]

2.56... and falling still... STTTOOOPPPPPP!

Mind you, this is based on speculation that the UK will cut interest rates in Jan from the release of the BoE minutes and rising unemployment figures.

I'm not sure if I'm correct in thinking this, but the BNZ has more room to cut rates than the BoE, so I'm sure there's more potential for improvement for GBP if NZD rate drops.

...glad I exchanged at 2.8!

[walshy]

Good for you:mad:

[elleann]

Check out the envy in my eyes!!!! ;)

At present rates, 1.00 GBP = 2.53360 NZD whereas when I exchange my South African Rands for NZ$, the trade is: 1.00 ZAR = 0.177147 NZD

Yup, R1.00 will get me almost 18c !!! :wah

[Sam B]

I feel your pain Walshy. We missed out on a brief rise to 2.93 last year - our fingers were hovering over the 'confirm' button, but our greedy little minds were thinking "oooh, it could go up more" - it then plummeted to an all time low and stayed there for what seemed like forever. I have never got over it! (Nor has Willsken).

[walshy]

I would grab 2.75 now, still think it may bounce back, sterling is taking a hammering from all angles at the moment.

What was the all time low?

[walshy]

2.59, come on , up up up

[doowrehsij]

IMHO, we can expect some wild fluctuations, so I'm confident we will see gains from 2.55. It's just a matter of patience.

All time low was around 2.4 I believe.

[silvo]

NZ dollar was introduced in 1967 at a rate of $2 ND to £1!

Hope it doesn't get that low !!

Regards

Neil

[Tomsk]

We just suffered having to change at 2.55. We'd dithered and muttered for far too long, holding out for the better rate that hubby was convinced would materialise but never actually did. But we complete on our new house on Monday, so had to take the going rate at Friday lunch time, and, darn and drat, it was a pretty poor one. But, onwards and upwards, it's a great house, and OK it's cost us a bit more than we'd budgetted for, but we're lucky enough to be able to swallow that, even though it's very painful, and the financial markets are just a mystery to me....about as safe as betting on the horses in my opinion.
Good luck to all of you with securing better exchange rates.

[doowrehsij]

I've had this mail from HiFx, thought I would post:

-To round off the year I wanted to provide you with a brief market update.
-The Kiwi ignored the latest round of New Zealand government forecasts, which showed the government was looking at increasing its borrowing and running larger deficits in the years ahead as the global outlook worsens. In addition, a survey by the National Bank showed overall confidence recovering from a 20-year low in December, but businesses were the most pessimistic on record about their own outlook.
- The New Zealand Dollar hit a six month high against an ailing Pound last Thursday,
buoyed by better global risk appetite and subsequent yield differentials. The British currency has already seen its worst trade-weighted depreciation since it left the gold standard in 1931
- Although recent weakness looks part of an ongoing range at present, scope nonetheless exists for further weakness in the near term at least unless GBP/NZD is able to recover back above key resistance at 2.8500. If and when seen, potential would then become readable towards the psychological 3.0000 level next. Otherwise, more important demand at 2.4000 will come back into focus over the coming weeks with only minor support visible beforehand around 2.5000.
- Interim resistance is also evident at 2.6350 and then again in the 2.7000 region as well.

[walshy]

I dont understand any of that!! Should I exchange at 2.60 now or not???

[Steve_B]

I dont understand any of that!! Should I exchange at 2.60 now or not???

That'd be a yes. Looks likely that the rate will get lower before any possible increase later next next year.

Steve

[doowrehsij]

It depends on how quickly you want your money really!

GBP is depreciating and the savng interest rates are low and going to get lower. I think this will continue into Q1/Q2 2009. From my readings NZ may have issues later on in the year, so there could be a bounce (and I'm sure there will!).

I'm not a financial advisor, so it could be worth calling some trading companies (i.e. HIFX) etc. or googling forex news on the GBPNZD.

[doowrehsij]

PS - Happy Christmas! ;)

[lockstock]

I feel your pain Walshy. We missed out on a brief rise to 2.93 last year - our fingers were hovering over the 'confirm' button, but our greedy little minds were thinking "oooh, it could go up more" - it then plummeted to an all time low and stayed there for what seemed like forever. I have never got over it! (Nor has Willsken).

Neither have we even though it went over 3.00 at one point before the crash. can't believe I sat here and watched it rise and rise...and then fall.
But I think the drop in interest rates makes up for it.

[willsken]

I feel your pain Walshy. We missed out on a brief rise to 2.93 last year - our fingers were hovering over the 'confirm' button, but our greedy little minds were thinking "oooh, it could go up more" - it then plummeted to an all time low and stayed there for what seemed like forever. I have never got over it! (Nor has Willsken).

:wah:wah:wah No, never have. Not sure it taught me a lesson though..... too much of a gambler!

[winka]

drop in rate now is terrible!!! watched it fall from 2.85 to now around 2.50!! Wish we transferred sooner