Dropping like a stone - GBP

[tay]

Bad for imports.

[TrickyDicky]

Is it good if you contract abroad and are paid in Euros but live in the UK?

[tay]

Yes

[TrickyDicky]

Thanks - I'm not much good with money - leave that to my accountant.

[aussielong]

transferring large amount of cash

I think so, I am no money market genius, but the weak NZ dollar is killing our exporters, the high interest rates are killing house owners.. so the economy is in for a major rough time in NZ, so I dont think its a huge risk to assume our exchange rate wont stay strong for more than a year or so.
.

3:1 - $3 kiwi buys 1 GBP
2.5:1 - $2.5 kiwi buys 1 GBP

less Kiwi than before required to buy 1 GBP

Kiwi is strengthening, not weakening, against the pound

this is because Kiwi interest rates are high compared to
UK, and people are investing, creating demand for Kiwi currency,
driving up the price and making it stronger

conversely, 1 GBP buys 2.5 kiwi, when it used to buy 3 kiwi.
Kiwi exporters will be doing worse because foreign (UK) buyers
will be finding it harder to buy Kiwi currency

anyway, if you have a large amount of cash to transfer use
HiFX. You can name your rate. I used them about a year ago
and it was very easy. You talk to a dealer, lock in a rate and then
they transfer the money at that rate, commission is not high
either - anybody else used these guys?

[tay]

Yeah I got 1 word incorrect.. but thanks for the lecture.