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Economists, A question

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  • 05-11-2010 1:22am
    #1
    brendansmith
    Registered Users Posts: 4,526 ✭✭✭


    Is now the time to buy Euro with your saved NZ dollars?

    I have 8k NZD sitting in my bank account and I am going home next year. Should I sent it to my AIB savings account now?

    Cheers


Comments

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    #2
    PhiliousPhogg
    Registered Users Posts: 288 ✭✭PhiliousPhogg


    No harm at all in quitting while you're ahead. But I would give it another 6 months to a year myself. The Eurozone is a mixed pot of the Northern countries who seem to be recovering pretty well and the Southern and Western countries who are still burdened by debt and imposing harsh cutbacks.

    Aussie seems very stable on the other hand and the NZ dollar can be expected to tag along with it. Australia's exports of minerals and NZ's agricultural exports have served their currencies well and demand from Asian markets keeps on growing. The Aussie reserve bank increased rates the other day too, UBank give 6% on an on-call savings account, I think you'll get around 3% in New Zealand.

    I wouldn't expect much of a turnaround in the next 6 months anyway.


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    #3
    jank
    Banned (with Prison Access) Posts: 13,018 ✭✭✭✭jank


    How long is a piece of string?

    However now would be a good time to convert from AUD/NZD to Euro IMO


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    #4
    brendansmith
    Registered Users Posts: 4,526 ✭✭✭brendansmith


    PhiliousPhogg wrote: »
    No harm at all in quitting while you're ahead. But I would give it another 6 months to a year myself. The Eurozone is a mixed pot of the Northern countries who seem to be recovering pretty well and the Southern and Western countries who are still burdened by debt and imposing harsh cutbacks.

    Aussie seems very stable on the other hand and the NZ dollar can be expected to tag along with it. Australia's exports of minerals and NZ's agricultural exports have served their currencies well and demand from Asian markets keeps on growing. The Aussie reserve bank increased rates the other day too, UBank give 6% on an on-call savings account, I think you'll get around 3% in New Zealand.

    I wouldn't expect much of a turnaround in the next 6 months anyway.

    Yeah, I quit while is was ahead and sent it home. I will be pi$$ed off if it goes much higher but no where near as pi$$ed as if it falls away. Thanks for your reply anyway.


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