[Debbie]

$3.059 this morning.

Sorry, all the time it's on the way up Im addicted. When it starts to crash I'll be devistated that I didn't have the money to change at this rate.
At Christmas everyone was taking bets on it reaching the $3 mark. Can someone tell me when it was last higher and what it reached then?
Trying to guess how high it could go, I wish I had paid more attension in economic class.
Debbie

[Bubbles]

Hi Debbie
The NZ$ last peaked at around what it is today back in mid 2004. Before that, it went upto NZ$ 3.50 ish back end of 2001, I believe.

:D

John

[treen74]

Yep - its compulsive viewing. I look between here and www.uk2nz.co.uk to get the latest news. Heres a graph showing the last 12 months -

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/currency/11/16/twelve_month.stm

We have a relatively meagre £35K (approx) to use as a deposit for a house (once we have jobs and are settled of course) - so we have seen an extra NZ$ 20K added to our total.

Hopefully we are going to time the changeover right. Maybe at the end of July, just before we go

[StevieD]

Thanx for that Martin!! Only just seen your advice coz I been ill :(

Can't speculate yet coz not got any money to play with ha!

[Bubbles]

Hopefully we are going to time the changeover right. Maybe at the end of July, just before we go

Hi, I reckon you could be right. Though some are actually saying this could go on through till Sept/Oct. Or even longer. ;)

John

[diforsyth]

If you can wait for the bulk of your money to be transfered, you could use a company like HIFX. You have the ability to either a) for a 10% deposit keep a rate for up to a year or b) tell them a future rate you want to exchange at i.e. if and when it hits $3.10 - obviously you must be realistic about your target.

[roddixon]

If you can wait for the bulk of your money to be transfered, you could use a company like HIFX. You have the ability to either a) for a 10% deposit keep a rate for up to a year or b) tell them a future rate you want to exchange at i.e. if and when it hits $3.10 - obviously you must be realistic about your target.

I spoke with HIFX last week and they will let you keep the exchange rate that you lock in at for up to two years-you do need to pay the 10% deposit.
This is what I'll do-but when to lock in ????????????
IMHO it still has further to fall..............

[Wannaway]

After months on "exchange watch" we finally changed up yesterday at a rate of $3.0075 to the pound - very happy to get to over the $3 mark.

What prompted us to change yesterday was Westpac issued their weekly report yesterday that suggested that, in the short term (next 3-6 months), the NZ$ may claw back some of its recent losses. I think they were forecasting it could slip back to $2.85 to the pound over the next month or so. However looking over a longer term, eg 6-12 months time, it should go back over the $3 mark (possibly as high as $3.30+). As we were running a mortgage on our new house, and therefore had interest costs over the next few months, I took the view that it was better to change now and reduce my interest cost rather than wait six months on the possibility the rate would improve, but having laid out monthly interest in that time.

Having kept tabs on the Westpac reports over the last few months I have realised that nobody can really say where the exchange rate will go, all they can do is make highly educated guesses based on known data and expected data (which inevitably varies in reality).

[Moorf]

Still hanging around the $3.03 / £1 :nice1

[Avalon]

3.04.

[Moorf]

Ok, ok, $3.04393... recurring :D

[bpk]

THE $NZ still sinking against Euro!

Today exchange rate:

1 NZD = 0.484353 EUR only!!

[willsken]

2.99975 :wah :wah :wah :wah Under 3!!! It's going the wrong way

[StevieD]

Come on Nic, send some good vibes !!

[willsken]

OK, I will sit and send it vibes all afternoon.... shant do any work :uhoh

[willsken]

2.97050 now and I sent it good vibes all afternoon. Just imagine how low it would be now if I hadn't! :p

[StevieD]

Uh oh :(

Up, up up up up........ :laugh

[willsken]

Uh oh

Up, up up up up........ :laugh

:laugh :laugh :exit

[Mr Brillo]

I think this is relavent to this thread........

I'm very very far from being a currency expert, and this might seem really obvious but for every £10,000 > NZ$

1c change = $100, which if it goes in £'s favour is very useful when buying a house.

Keep calm - apparently the NZ$ should go in GB£ favour later this year - something to do with fixed rate mortgages coming to an end, possible NZ interest rate reduction and rises in interest rates elsewhere in the world.

Keep positive!!!!!! :roll

Anyone else got views on these points??

[willsken]

Yes you are very right when you point out that even a 1c rise means a lot of money when you cash it all in, in the UK to take to NZ.

I have also read that things are going to improve again by the end of the year. The big question we would all love the answer to is by how much and when will be the best time to move our money! :)

[bpk]

NZ $ still sinking!!

[bpk]

I mean sinking against Euro
1 NZD = 0.490307 EUR

[willowshouse]

Where did all those positive vibes go!!?? Come on, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up, up

[smitjo]

UP, UP, UP, UP,UP, UP, UP, UP, UP, UP, UP, UP UP..........................COME ON NOW :mad:

[willsken]

I'm sending it all my positive vibes ...... and no comments from you StevieD :p

[tigerlily]

I see that the pound is doing wonderfully and the US dollar is sinking. Oh dear.

[zardell]

NZ $298.56 to £........going back up........ :clap

Julie

xx

[Bean]

wow thats some exchange rate........:)

[zardell]

:D

Not bad is it........ :roll

Was going to edit the post and change the decimal, but then I thought 'No, it will tickle someones sense of humour' and it was you Bean, it was you !!!

;)

Julie

xx

[StevieD]

Hey only just noticed that slip up. Wouldn't that be nice!! :)

[Debbie]

Good start to todays rate, I think I'll wait and see what tomorrows GDP brings.
http://www.nzherald.co.nz/section/story.cfm?c_id=3&ObjectID=10387873
Im hoping that the exchange rate will make up for some of the kicking we are taking on the house.
Debbie

[willsken]

3.06510 yippppppppppppppeeeeeeeeeeeeeeeeeee :clap :clap

[StevieD]

Nic, you really must get a life outside of the exchange rate pages!! Good news though innit :)

Up, up, up, up, up... come on now, everybody...

[willsken]

Nic, you really must get a life outside of the exchange rate pages!! Good news though innit :)

Up, up, up, up, up... come on now, everybody...

I'm a very busy girl at the moment, end of term coming up and the school inspectors in the door 2 weeks after we get back from the summer hols! Now must go check on that rate! :roll

[tigerlily]

from http://www.nzherald.co.nz/section/story.cfm?c_id=3&objectid=10390964
the New Zealand Herald

Currency: Interest rate expectations support kiwi dollar

6.00pm Wednesday July 12, 2006

The New Zealand dollar edged higher against all its major crosses today, as expectations firmed that New Zealand would not cut its interest rates in the near future.

At 5pm the kiwi dollar was buying US61.82c, a jump of more than half a cent from US61.18c at yesterday's close.

Other factors in the kiwi's rise included a weaker US dollar, political tension in Australia and the expiry of options.

"Sentiment is still quite negative, but there's enough appetite around, particularly from offshore, to suggest the kiwi dollar in the nearer term is going to find reasonable support," BNZ forex manager Mike Symonds said.

He said the market was continually reappraising any easing of interest rates here and although the data was mixed, the kiwi looked likely to trade in broader ranges than it had recently.

The kiwi seems supported around US60.60c, with a risk to the upside of US62.20/50c area.

Also supporting the currency were comments from the Finance Minister Michael Cullen, who said he was expecting a "soft landing" for the economy.

He expected the economy to slow in the second half of the year, but that the lower exchange rate would trigger a pick-up in growth.

The kiwi also improved against currencies from other major trading partners at A82.05c from A81.45c, 0.4845 euro from 0.4803, and 70.70 yen from 69.81. The TWI was at 61.85 from 61.26.

Offshore, the US dollar edged up against the euro and the yen on Wednesday but stayed in sight of one-month lows ahead of tomorrow's US May trade data.

The euro was a cent off its one-month high of $1.2865, while the yen was steady ahead of a Bank of Japan meeting later in the week, which is expected to result in the first rise in Japanese interest rates in six years.

[StevieD]

Damn... :( Over to you Nic :laugh

[willsken]

I'm too choked to speak :wah

[StevieD]

LOL - it is a blip - honest!

[willsken]

Hope it's a quick blip - we are about to transfer the money for the deposit on our land! :roll

[Lupin]

Are you buying land in NZ while here in the UK Nicola?

[willsken]

Yes. We started the process when we were over there last year. Had to wait for the approval though. That is why the process has taken so long. TBH it's great that it has taken so long... we were only getting $2.45 to the £ then :nice1

[mossum]

arrrrrghh

its dived today !!! fingers crossed it peaks again :confused:

vic x

[Lupin]

How exciting for you Nicola! I've been looking at land in CHB...looks wonderful :)

[StevieD]

It is on a bit of a run due to the markets, but the trends that put it where it was exchange wise are still a factor so hopefully it will rise again... fingers X'd.

[willsken]

It is on a bit of a run due to the markets, but the trends that put it where it was exchange wise are still a factor so hopefully it will rise again... fingers X'd.

Oh I hope you're right.... my nerves are shot! :wah

[Cardiff Irons]

Nicola, I've spoken to the money men, explained the situation and asked them what they can do to ease your nerves.

Seems they did their stuff.......

1.00 GBP = 2.99361 NZD :D

[willsken]

:D Feeling much better! Now if you could just get them to set the rate at mmmm say 3.40 I'd be :D :D :D

[jdbob]

I sure got screwed today on a transfer from US Dollars to my Euro account at Nationwide International. According to the exchange rate graph the lowest it got today was .783 euro per dollar but they only gave me .765

[Cardiff Irons]

Hi jdbob

You may already know this, so apologies if that is the case (others may not know, hence the reason for me posting).

The prices quoted are normally the mid-price, ie. something in between what financial institutions would buy and sell at (the former obviously lower, the latter higher).

So the price you get will always be less than the mid-price. The extent to which it is lower might depend on volume. If you're cashing in 20 euros, you'd obviously get a worse rate than if you had 20,000 euros to exchange.

Commission free exchange can be misleading. Although no commision charge is made, this is often at the expense of a much lower rate of exchange.

[jdbob]

I got a carefully worded reply from Nationwide International. They recommend not having HSBC in London do the currency conversion but instead use some other company to do that. I had mentioned XE in my inquiry and while they didn't endorse anyone it sounds like that's the sort of thing they are talking about.

Live and learn.

[Cardiff Irons]

willsken!!!!
1.00 GBP = 3.05139 NZD :clap

[willsken]

:raebanana :raebanana :raebanana

My smile is soooooooooooo huge! Can't make up for losing our buyers this morning but it helps! :)

[marcia]

:raebanana :raebanana :raebanana

My smile is soooooooooooo huge! Can't make up for losing our buyers this morning but it helps! :)

Oh no Nic - doesn't the system for selling here make you want to scream!! About time they brought in some similar measure to scotland and NZ where the buyer has to pay a deposit to stop people pulling out at the last minute.

Sending you big hugs!

[willsken]

Thanks Marcia

Very frustrating - but hell, we'll get through in the end! If my curses come true he won't live a very happy life! :laugh

[marcia]

Thanks Marcia

Very frustrating - but hell, we'll get through in the end! If my curses come true he won't live a very happy life! :laugh


:laugh

Hm probably the same 'happy life' i wished for our last lot of estate agents too - now where did i put that voodoo doll I made???

[Cardiff Irons]

Can't make up for losing our buyers this morning but it helps! :( Sorry to hear this.

[willsken]

Thanks Steve :)

And looky here now, this little baby is almost back up to its year high!!3.06670 :raebanana

[StevieD]

OMG - up up up, but wait until we manage to sell our houses.... :laugh

Don't know why I'm laughing after Mr Chowdhury or however his name is spelt didn't turn up to us or another seller last week :mad:

Ah well, as long as we get out of here... ho hum

steve

[willsken]

Steve you don't seem to be having too much luck at the moment. Just remember, all it takes is one! So wishing you good luck. :nice1

[mossum]

nicola......

couldn't agree more - ours were out of the blue - viewed at the beginning but we were a bit too expensive & they were'nt sure on the road - they were let down last minute & needed to buy quick - needed no upper chain & as luck would have it that was us ....

Just a little advise though - get sorted with everything asap - & make sure all bills are in 2 names or a good mix of both - we had all our bills in my name only - this has made it harder as paul had no evidence of actually living here/proof of adress etc

Oh & about 6 people will ask you for a bank statement not more than 3 months old !!!

vic x