The New Zealand dollar has been on a very strong run recently, making the process of buying NZD using Pounds a more expensive currency exchange.
With the uncertainties surrounding the current UK government’s Brexit plans and the coalition between the Conservatives and the Democratic Unionist Party (DUP) still to be confirmed, I’m personally expecting to see the Pound continue to weaken.
Brexit talks are also underway now which could result in further stress for the Pound.
From the New Zealand Dollar perspective the currency is trading at a 3 and a half month high against the Pound, as the currency has been boosted at the same time the Pound is weakening across the board.
The RBNZ has decided to hold interest rates where they are and also doesn’t appear concerned that the New Zealand Dollar is considered overvalued by many. There has also been a recovery in the value of many commodity prices which has boosted NZD.
If you would like to be kept updated regarding any big swings within the GBP/NZD exchange rate do feel free to get in touch.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.