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Old 16-04-2007, 08:38 PM
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Is that good news or bad? For me I mean
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Old 16-04-2007, 08:56 PM
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Not good news for anyone coming this way.

There was a programme on the high dollar today, pretty much saying it's going to get worse and stay pretty bad for quite a while yet.
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Old 16-04-2007, 10:22 PM
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well, good and bad news with the dollar still high and now I feel will not drop for a while with predictions for it to keep its strength with as possible interest rate hike on 25th April!

But, the best rate I could get today was 267 from HIFX, they started from 2.66.2

But, needs must and its for a good cause- our first NZ home and we cant wait so I did it!
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Old 17-04-2007, 03:39 AM
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Could be worse, Mark. We only got 2.4 something or other when we sent money to NZ for our house purchase. Couldn't have picked a worse time. Still get a sinking feeling in the pit of my stomach when I think how beneficial it would have been if we'd wait a bit longer. However, with house buying, you can't diddle around waiting for the rate to improve or you'll find someone else has pinched your ideal house from under you.

We've been waiting on a better rate ourselves, to send money for iwork being done to the house, but it doesn't look like it's going to improve at all in the forseeable future.
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Old 17-04-2007, 09:19 AM
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Pity you didn't try World First again - they try to beat any HIFX rate!

Anyway, good luck with your house
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Old 17-04-2007, 11:54 PM
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I guess the thing for us to do then is to just change literally as little as we can get away with and leave the rest here until the rate picks up again. Cor, to think last year when it was 3.03! That's gonna make a massive difference to us. Oh well, it's part of the risk you take I guess. We'll just have to try and be as savvy as we can.
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Old 18-04-2007, 12:06 AM
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Hi there,

With regards to the different FX companies, to be honest - its a much of a muchness. I work for ASB Bank in London who also uses commercial FX rates, and we find that virutally all the brokers (including us) have the same rates. I haven't heard of World First before, and I'd be inclined to double check that they are regulated by the FSA for your peace of mind! The best way to get the best rate is to call all the companies up within minutes - that will give you the best indication of what margins are being used as the rates do literally change second by second! Don't just refer to websites as they all post the mid-market rate rather than the commercial rate that you actually get! Hope this helps! And it could've been worse - I had customers getting 2.39 around Dec 2005! Good luck!

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Old 18-04-2007, 11:11 AM
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hi katelanc, welcome to the forum

World First have their head office in London and are regulated by HM Customs and Excise in the UK as a Money Services Business, according to their website.

They also guarantee to beat any banks' exchange rate and any other currency companies' rate.

Glad I wasn't changing any currency in Dec 2005, 2.39 is shocking. Count yourselves lucky people!
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Old 18-04-2007, 04:09 PM
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NZ dollar reaches record high
11:12AM Wednesday April 18, 2007

The New Zealand dollar this morning broke a 25-year-old record high against the US dollar - fantastic news for holiday makers but bad news for exporters.

The dollar briefly traded at US74.76c, the highest level it has touched since it became a free floating currency in March 1985. It was floated at US44.44c.

The dollar was last at this level against the US dollar in 1982 when New Zealand ran a so-called crawling peg currency.

The previous post-float high of US74.65c was in March 2005.

At 12.10 it had eased slightly and was trading at US74.64c.

Today's inflation data helped push the kiwi up in frantic trading. Although the Consumer Price Index rise of 0.5 per cent was just below forecasts, analysts said it was high enough to persuade the Reserve Bank to hike interest rates next week.

Rampant inflation and high foreign borrowing in the early 1980s forced authorities to continually devalue the New Zealand dollar from over US82c in 1982 to under US45c just prior to floating the currency.

More here .

And a bit more about the rising dollar.
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Old 18-04-2007, 08:16 PM
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Default its done
well, the dollar still looks strong and I have bought now so thats it.
It was easier with HIFX as I already had a client account and didnt want any hold ups on our house completion next week!
I contacted world first but they wanted lots of ID proof and of course my passports are with Business Migration awaiting them to send back with- OUR PERMITS !!! GREAT.

So, its a tough one but hey it could keep falling for a few weeks so 2.67 wasnt bad.
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