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By Leigh Smith

Do you currently have a requirement to send New Zealand Dollars? On Friday the Office for National Statistics released the UK 3rd Quarter GDP figures, showing the UK is still in recession.

On the back of this we saw the Pound lose considerable ground throughout the day’s trading, and with it now being predicted that the Bank of England could increase their Quantitative Easing programme at the start of November this may be a trend that continues for the short to medium term. If you have a requirement to send New Zealand Dollars, or exchange Pounds for Kiwi Dollars then can you afford for the rates to move against you in this time? Get in touch with one of our friendly currency brokers today who will be happy to assist.

By Rob Bastin

If you are looking to buy kiwi dollars with Sterling then rates are now 1.25% worse off than they were at the open this morning. UK GDP data showed that the UK economy contracted by 0.4% in the 3rd quarter and is therefore still in recession. Analysts had forecast a growth of 0.2% and as official figures were so much worse than this, the pound has lost ground againts all major currencies during Friday’s trading.

By Leigh Smith

So far during this morning’s trading we have seen GBP NZD exchange rates increase by over 0.7%, making sending money to New Zealand less expensive.

This is in line with Sterling gains accross the board against the majority of major currencies ahead of the UK GDP figures being released at 9.30am. It has been predicted that GDP will increase to 0.2% meaning that the recession has come to an end. If this is the case, we could see further Sterling strength this morning.

By Michael Vaughan

Sterling carried on its mini revival against the NZD despite some poor retail sales figures released at 09:30 this morning. Retail sales showed no growth in September against expectations for a 0.5 percent increase, while the annual rise of 2.4 percent was below forecasts of a 2.8 percent increase. With little data from New Zealand for the remainder of the week focus will be placed on UK GDP figures tomorrow at 09:30. Official figures are expected to show the UK is out of recession, should this be the case we may see strong gains for the pound.

By Leigh Smith

A number of people assume the only way to do this is through the High Street bank, there is another way.

Banks offer a number of services, loans, mortgages etc and do not specialise in currency, therefore are generally unable to offer competitive rates of exchange. This is where a specialist currency broker can save you potentially up to 5% on a transfer simply through the exchange rate achieved. Feel free to submit an enquiry today and one of our award winning friendly brokers will be in touch to explain how easy the process is.