who's watching the currency!

[KiwiHopeful]

It's back over $.79, which IIRC is the highest it's been since it slid down from $.81.

Again, I wonder if it's the combination of interest rate cuts back in the US and interest rate increases here. What are interest rates doing back in the UK?

[ebianca]

Typically just as we have sold our house the rate drops right down to it's lowest. Just our luck.

We are not heading to NZ until March though so there is still time for it to creep back up- finger's crossed.

[Ginabridget]

We're the same, have just sold our house but won't be going for a few months yet and are hoping that the rates are going to improve. If it doesn't we're just going to end up renting in NZ for longer, hoping that by keeping our money in savings in the UK will meet our rent in NZ. It just doesn't make sense to lose money by exchanging at a dodgy rate, hopefully when the exchange rate is in our favour the property market in NZ will have sorted itself out as well.

[alan&moyra]

Dont even start me on the rates !!!!!!!!!!! we have started the process of building our own and need to begin transrerring GBP into NZD and we are loosing out big time, we are hoping that it will take a dip in the near future before we need to draw on it again. If not it means we need to borrow more than we had first wanted to :(

[MotherBear]

Not good news for those about to make the move. Not good news for us either as we want to shift some money.

Currency: Dollar tipped to reach US85c
Updated 12:45PM Tuesday February 26, 2008

The kiwi dollar may be at a record high today, but a leading economist says it may still have further giddy heights to scale in the coming months.

And the chief executive of one of New Zealand's main exporters said today he would not be surprised if the high dollar acted to drive more businesses offshore.

The currency has climbed well above 81 US cents, reaching a zenith of 81.37 at 11am.

Worse may yet be to come, with one economist saying the dollar could easily get to 85 US cents in a matter of months.

Export New Zealand is calling on the Reserve Bank to give businesses a break by reducing interest rates, and this call is echoed by Fisher & Paykel CEO John Bongard.

Last year, the company announced plans to move part of its manufacturing operation to Thailand. Mr Bongard says high interest rates and the exchange rate will no doubt see more businesses look at similar options. He is very concerned about what is being labelled the hollowing-out effect on the New Zealand economy.

More here .

[ebianca]

Not what we wanted to hear.

We are in the dilema at the moment of deciding what to do with the bulk of our money.

We are planning on transferring about ?15k for us to live off and set up home etc when we arrive and until OH gets job. The rest we are undecided as to transfer it too or leave it in savings here in the UK until we need it for house deposit- we were thinking of renting for about 12 months so no need for it straight away.

With the exchange rates like they are at the mo we could be losing out on about ?10k as apossed to the end of last year when the exchange rate was almost at 3.

[alan&moyra]

We still have over 15k of gbp in a holding account here, which we are not planning to move untill the rate gets a tad better............ which may not be for some itme yet by the looks of things.......... lookslike we will have to raise our mortgage more than we wanted too and then pay off a lump sum when rates get better..........

[macfod]

Its pretty low..A blessing our house is still on the market after 4 months. I wonder...
And tourists are noticing the rates as well so hopefully it will ease...