[Pip]

Have been doing some reading on previous threads about exchange rates (and realised how flipping lucky am I compared to the people who had to take 2.4 when changing up their life savings back in 2005!)

I've changed up some with HIFX to get us through the first couple of months, but wondered if anyone had any 'feel' on the finance markets and whether the rate (NZD:GBP) is predicted to rise or fall over the next few months..I know its no guarantee, but on previous threads there seemed to be some quite strong opinions as to what would happen!

Are we likely to ever see the magic '3' again ?! ;)

[gil]

Hi Pip,
we met someone at a party over here recently who tracks the $NZ against the $AUS, $US and the euro for a living (he manages an import division for some company) and he was of the opinion that come April, the magic 3 might well re-appear. Hardly a cut-glass prediction, but one informed opinion to kick off with.
Good luck with the move!
Gil

[StevieD]

That'll do me gil!! :laugh Keep us posted on your mystic mates predictions...

[jess]

Just before we bought our house here last year, when we were looking in June and July, Bloomberg and all the other financial news kept saying week after week that the Kiwi was eventually going to to really take a dive. It was "overvalued and waiting for a big correction." I wanted to wait for the USD to buy NZD $1.70, just a few cents away. But we found a house, and were forced to bring our savings over instead of waiting for that dive... That was right when the Kiwi dollar started to rise instead of falling and it has stayed higher than July ever since, so we really lucked out!!

With so many sources continually saying the Kiwi would fall I pretty much believed it would have to go down at least some. I passed up a peak in the exchange in June after reading analysts' predictions, thinking that it could only get better.

I don't know if that's remotely helpful, since what else do you really have to go by but analysts? But if you get near a deadline where you know you will have to transfer your money in the short term, take a spike in the exchange if you get one instead of having a magic number in your head like I stubbornly did.:o

[pieeater]

I'm fully expecting it to go up to the 3.00 in a few months time,barring any terror threats that is.No expert here just 7 years of tracking it.

[Angelonthemove]

better pay my Mum for the tickets she put on her UK credit card then sooner rather than leave it until April!!! :laugh

[willowshouse]

I'm hoping for the magic 3 .. we still have our £££'s in England just waiting ... waiting...

Its strange that we all want the '3' .. it went up to 3.08 last summer if memory serves correctly but we'd all be happy with just '3'. Is there anyone out there who is holding out and would NOT cash in at '3'?

Dawn

[willsken]

I'm hoping for the magic 3 .. we still have our £££'s in England just waiting ... waiting...

Its strange that we all want the '3' .. it went up to 3.08 last summer if memory serves correctly but we'd all be happy with just '3'. Is there anyone out there who is holding out and would NOT cash in at '3'?

Dawn


:uhoh

[marcia]

Back in August when we moved our first lot of money down to the ASB in London, she offered us 2.9 that day but we refused holding out for the magic 3 but its dropped slowly but surely since that day. :(

We moved some over before we came in November for setting up costs etc and got 2.86, but have left the rest of the money and now our house sale money sitting there (NB just sorting the forms out so we don't pay tax on the interest over there too!!)

Kev still tracks it everyday but to be honest I'm not interested in watching it - when we find the house we want we will have to move the money no matter what the rate is, so I'm only interested in the rate that day!!!

[scampi]

Has someoe got a link to a site where the previous few years of rates are graphed or mentioned?

[Cardiff Irons]

Has someoe got a link to a site where the previous few years of rates are graphed or mentioned?This should do the trick http://www.oanda.com/convert/fxhistory - shows the rates over any specified period of time. :nice1

[diforsyth]

Marcia's got it dead right & I've said it before in threads - if you're not in the FX industry then you'll only torture yourself thinking about what you could have. Convert your money at the current day's rate, be happy with what you receive and spend it wisely in your new home country :nice1
David.

[Trigirl]

Marcia's got it dead right & I've said it before in threads - if you're not in the FX industry then you'll only torture yourself thinking about what you could have. Convert your money at the current day's rate, be happy with what you receive and spend it wisely in your new home country :nice1
David.

very very wise words indeed

[MarkS]

The best currency graphs I've seen are at http://www.hifx.co.uk/members/charts.asp - you have to select GBP/NZD (or any other currency pair you like!) but then they have a great range of timescales for you to select from.

But....

you'll only torture yourself thinking about what you could have. Convert your money at the current day's rate, be happy with what you receive and spend it wisely in your new home country

I completely agree! I keep on catching myself calculating how much more we'd have made if we'd changed our money at 3.06 instead of 2.85 - but that's not exactly much use. I just remember this time last year the rate was more like 2.5 and try to be happy!

[Pip]

Thanks everyone - wise words! I've changed enough to get us through our first month and then come april, we'll need to change some more, so I guess in reality I'll be taking whatever the rate is at that point - that said, I'll still keep my fingers crossed for the magic three.. sorry, - I can't help it! ;)

will be interesting to post an update in april/may and see what happened!

[scampi]

many thanks for replies