Moving to NZ...should I send my money now, or wait, or not worry about it as it is just a tiny tiny amount?

[beansmum]

I was just checking out currency exchange rates and a £ is apparently worth $2.67 today, last time I checked it was $3.90. I know nothing about money though so I'm not sure what to do, if anything.

The 52 week high on the NZ$ is 3.01 and the low 2.41 which was back in March. Movements on the foreign currency markets seem to be anyone's guess at the moment - however the rate is related to the perceived relative strengths of the 2 economies. At the moment, the pound is falling against most currencies due to overall jitters about the UK economy in comparison to other economies. It is really just gambling imo!

Do you have a NZ$ bank account yet - the rate you will get in a bureau de change is nothing like as good as the rates traded on the money markets or that obtained by businesses.

I have a NZ bank account, I would just do a transfer thingy and pay the charges at the NZ end. I'd have to leave some money here to pay for shipping but I could move most of it tomorrow if I wanted to.

I wish I didn't have to do this on my own. Somebody tell me what to doooooooo!

Sorry! There's no easy answer as it's really just gambling. However, I work in a company which does business in NZ and the rate hasn't fluctuated that much over the last few months despite all the turmoil - between about 2.87 and 2.60 - about 10% fluctuation - it is really hard to predict but the rate seems to be rising again a little at the moment.

Keep an eye on the rates daily - see here newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/currency/11/16/default.stm

Sorry I can't give you a more definite answer - maybe someone else can!

I have decided I don't really care that much, it is such a tiny amount of money. I suppose it would be sensible to keep it here anyway, I might have some unexpected expenses in the next few months. I hope not, my budget is VERY tight, but you never know.

Thanks for that link btw, it looks slightly more accurate than google!