Any thoughts on the exchange rate at present?

[icemaiden]

The NZ Dollar is incredibly strong against the pound and still seems to be slipping - it's showing today at less than $2.50 again (horrific for people waiting to exchange from £).

I read the article posted a few days ago about how the strong dollar is also affecting NZ's ability to export at present so wonder what is/might be happening over there.

Thoughts?

[hosebergine]

Just spoken to my FX guy in London and it doesn't look like I'll be buying a house in NZ anytime soon. He thinks it's at the bottom of the cycle but wouldn't be surprised if it didn't slip to the low 2.40's. I'm having to leave it in the UK gaining no interest whilst suffering the misery of trying to find a half decent rental in Auckland

[JandM]

About three weeks back, I needed to send some money to my d-i-l, and felt hard done by as we only got a rate of $2.524 to the GBP - it's starting to look as though I didn't do so badly after all.

[nickiware]

very depressing, I got 2.85 to the pound last October : (

[RJLink]

Misery loves company, so I'm glad to hear it's not just the US dollar that's tanked against the NZ dollar. Oh for the days of March, when a US dollar could get 2 NZ dollars. Now it's 2 to get 3. I'm really pessimistic that the NZ dollar will fall anytime soon.

[dharder]

I'm having to leave it in the UK gaining no interest

That's the worst bit about it, isn't it. I think we get 0.6%? I wonder at what point we have to pay the bank to keep our money...

Daniela

[incredible hulse]

That's the worst bit about it, isn't it. I think we get 0.6%? I wonder at what point we have to pay the bank to keep our money...

Daniela

What like NZ you mean?

In terms of the exchange rate - I'd be amazed if it fell much more but who knows. Bollard started making statements today about the wholesale rates still being too high but still no move on OCR. I can't see the OCR staying this high much longer and hopefully that will ease the exchange rate. I've just bought a load of sterling based on the hope that this is the bottom

[frootbat]

That's the worst bit about it, isn't it. I think we get 0.6%? I wonder at what point we have to pay the bank to keep our money...

Daniela

We bunged some of ours in premium bonds - we've got something like a 36 million to one chance of winning a million of those lovely british pounds, then who cares what the exchange rate is! More exciting than earning 0.03% interest anyway...

[PonyGirl]

We are hoping for some kind of change in the exchange rate for USD vs NZD as we are coming over in October. But I really doubt that it will improve for us. I'm so bummed we missed out on the great exchange rate back in March, but oh well. We'll just see how it works out and hope for the best.

[72andsunny]

We are hoping for some kind of change in the exchange rate for USD vs NZD as we are coming over in October. But I really doubt that it will improve for us. I'm so bummed we missed out on the great exchange rate back in March, but oh well. We'll just see how it works out and hope for the best.

I was thinking the exact same thing. However, the Dow Jones was 6625 on March 6th of this year. 1 USD bought 1.99 NZD on the same date. Today, the Dow is 9144, and 1 USD gets you 1.53 kiwibucks. In case you don't feel like doing the math: in NZD, the Dow was 13,184 in March, and is 13,990 today.

I guess if you were holding a whole lot of cash in March, you would have been much better off buying NZ money then...but if you're invested in stock (or have a house to sell), things have not changed much in the last 6 months.