[constablechuck]

The exchange rate between the U.S. Dollar and NZ Dollar has slipped from U.S.D 1.00 = NZD 1.55, to U.S.D 1.00 = 1.44 NZD. I hope it doesn't keep dropping, I'm planning on bring over about 14000 in cash and travelers checks when I arrive and then wiring another 20,000 from my bank to a NZ Account after I arrive, with the exchange rate dropping I'm wondering if it would be worth waiting to see if the exchange rate improves before I wire the money over, however it could get worse and then I'm out more money, does anyone have any insight into the fluxuations in the exchange rate ?

[willsken]

This thread was talking about the £ though so I'm not sure it's much use to you but there is some advice that is general.

http://www.emigratenz.org/forum/showthread.php?t=7955&highlight=exchange+rate

Do a search on exchange rate there is quite a lot on there :)

[Park City Partner]

From what I have read recently, the exchange rate should get better but not until mid-2007. When we first came over in the beginning of 06 the rate was about 73 cents it eventually went down below 60 at the low and is now pushing 70 again! Ugh! Should have transferred more money when it was low. I would wait as long as possibe to transfer money...

[xanctus]

Tough situation indeed, as we also hoping that US$ not getting weaker and weaker...but with your situation, maybe you might want to transfer some for the amount that you need, and save the rest until the rate maybe better.
But again, I don't know your current situation though.

[borea]

Latest I've heard is that they are still threatening to put the interest rates up in the new year to cool down the inflation. If they do that, more people will want to invest here and the NZD will go up.

There's no need to travel with so much cash. I also wouldn't wire large amounts of money from bank to bank. The exchange rate will suck. I'd recommend setting up a bank account here long before you arrive and transferring money into it using a service like xe.com which will have much better exchange rates. When you arrive with a couple hundred dollars in your pocket, you just go to your bank and they'll give you your eftpos card and credit card and all that and you're good to go in about half an hour. Much easier, cheaper, and more secure.

There are a number of other threads about currency exchange and migrant banking that you should check out for more details and other people's experiences.