[Tia Maria]

For those that haven't noticed there is a steep decline in the dollar today, something to do with the yen.

Anyway currently standing at £1 = $2.63
(it was about 2.56 yesterday!)

Might be worth keeping an eye on it if you were needing to change some money.

Cheers

Tia

[willsken]

:clap :clap :clap For me anyway!!

[crispyking]

... keep going ...

all the way back to $3 to a £1 would be gr8 !! ;)

/waiting for it ... :cool:

[willsken]

Oh, come now, don't be a pessimist. Zardell and I were always going to hold out for the $3.40 to £1:uhoh :uhoh :uhoh

[crispyking]

.. there's optimism, and then there's over-optimism .... :p

[willsken]

:laugh :laugh :laugh

[Howie]

I need to sell some US$ so have been tracking the dollar very closely. I was going to sell today, but it occurred to me that I have no idea what rate the bank (Westpac) will give me. Do they set their rates once a day? How do I find out what it is? I track the dollar throughout the day on xe.com, but I really should be tracking the banks rate. Any ideas?

[crispyking]

I'm tracking the £ and subscribe to a couple of sites that send email alerts of the rates during the week -
http://www.hifx.co.uk/marketwatch/daily_rates_updates/subscribe_old.aspx
or
http://www.worldfirst.com/

hifx also do historical data - so looks like the rates of $3.6 - $3.7 to a £ were actually achievable willsken .... in 2001/2 :roll

http://www.hifx.co.uk/marketwatch/currency_charts/historical_data.aspx

roll back the markets !! :cheers

banks will generally follow these rates, when transferring internationally you should ask for business rates rather than tourist rates, generally, the more you transfer the better the rate you can achieve - over $100k gets better rates ...

[gpbenton]

I need to sell some US$ so have been tracking the dollar very closely. I was going to sell today, but it occurred to me that I have no idea what rate the bank (Westpac) will give me. Do they set their rates once a day? How do I find out what it is? I track the dollar throughout the day on xe.com, but I really should be tracking the banks rate. Any ideas?

I've found it costs less to actually transfer the money through XE.com rather than the bank.

[suebeenz]

Heard a couple theories on the decline.

1) It was announced that this would be the last interest hike for 'this round'
2) Bad housing market news from US -> not quite sure what that would have to do with nz dollar though, now that I think about it ....

[speckythecky]

Keep on going please!!, another 0.2 or 0.3 would do.

[Howie]

I've found it costs less to actually transfer the money through XE.com rather than the bank.

The problem is that I have a USD cheque. I don't think the banks will give me a good rate on a cheque.

[Park City Partner]

If you still have an account in the States I would send it back to be deposited and then transfer back via xe. Although I guess it depends on the size of the check. If you don't need the money right away I would wait a bit longer as the NZ dollar is still overvalued.

[barryp]

I'd go with the first of those... a clear sign to currency speculators that Reserve Bank-driven gain is over for awhile. Speculator sales result in a currency drop.

[willsken]

hifx also do historical data - so looks like the rates of $3.6 - $3.7 to a £ were actually achievable willsken .... in 2001/2 :roll

http://www.hifx.co.uk/marketwatch/currency_charts/historical_data.aspx

roll back the markets !! :cheers


Sadly my mum was on holiday in NZ at this time and she never fails to remind me...........bless her. :D

[holland]

HA ha willsken, so was my father in law!!

[willsken]

Bet he never fails to remind you to!:roll :D

[holland]

;)