Money transfers to New Zealand
28 July, 2011
New Zealand Dollar rates are likely to show some volatility this week – the Reserve Bank of New Zealand (RBNZ) announces its latest interest rate decision on Wednesday.
Currently rates are set at 5%, and a cut to around 4% is expected. Expectation of a rate cut has led to a weaker dollar – and better exchange rates for money transfers to New Zealand.
Of course, if the RBNZ doesn’t cut interest rates as much as expected, you could expect exchange rates to worsen accordingly.
Make sure you have a UK currency broker like Currency Index looking after you if you are moving to New Zealand, or sending money out there for any reason. Don’t forget, you can book exchange rates up to 2 years ahead to help keep your costs under control.
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