Getting the best exchange rate can be achieved by understanding what is driving rates and the service of a specialist currency broker. Below are movements in just 30 days affecting Pound Sterling rates when buying £200,000:

Currency Pair% ChangeDifference on £200,000
GBPNZD2.8%NZD $10,240
Is now the time to buy New Zealand Dollars?

Is now the time to transfer New Zealand Dollars?

Against most of the major currencies the Pound has really struggled however against the New Zealand Dollar we have seen gains of over 2% during yesterday’s trading session. This is the biggest daily move between Sterling and the New Zealand Dollar for over 2 years as the Labour Party has won for the first time in 9 years.

As they were not the leading party this has caused a huge amount of uncertainty in New Zealand as she will now need to convince the nation to support her. The agreement came after almost 4 weeks of negotiations and as Ardern only became leader back in July then clearly there is not a lot of experience.

At 37, Jacinda Ardern is the youngest Prime Minister in New Zealand since 1856. The Labour Party actually came second in the election back in September but as NZ First Party has now agreed to govern together to form a coalition.

Like with Trudeau and the recent election in Austria the populous appears to be looking for youth over experience and this has been demonstrated with New Zealand.

Although the UK is struggling with the ongoing uncertainty of what is happening with the Brexit issue this would typically result in Sterling weakness. However, owing to the change of leadership this has created some excellent opportunities to buy New Zealand Dollar with Sterling. Therefore, if you are thinking of sending money it may be worth taking advantage of the political uncertainty.

Indeed, GBPNZD exchange rates are now close to their highest level in over a year apart from a brief period back in May 2017.

Owing to the time difference between here and New Zealand even though you may not be able to speak with your account manager inside of trading hours it may be worth looking at utilising a Limit Order which allows you to set a pre-determined rate which is automatically triggered if we are able to buy at your desired rate. if you have any questions about an upcoming transfer I would be more than happy to discuss them – you can contact me with any queries on 01494 725 353 or email me here.

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Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.