You should always check the total cost for any exchange rate you are provided by banks or FX specialists. These exchange rates almost always contain a margin from the wholesale NZD/GBP rate ( interbank mid-rate) plus fixed or percentage fees.
These margins and fees can vary significantly for NZD to GBP International Money Transfers, Travel Money and prepaid multi-currency Travel Card transactions. Note the total cost will also vary on the currencies and total amount being exchanged.
We can help you get an even better deal when sending a Large International Money Transfer.
Click below for the Request Quotes form and enter your transfer details (BER account required).
When determining the best time to make a foreign exchange transaction, in this case the NZD vs GBP, you should pay attention to the recent market trends for both currencies.
New Zealand dollar (NZD)
NAB’s forecast for NZD/USD is for the kiwi to rise to 0.76 by the end of the year against the greenback. NZD Markets
Pound Sterling (GBP)
The coronavirus pandemic had replaced Brexit in the headlines for most of last year. In 2021 the pound has held or even improved its value while markets sort through the aftermath of Brexit and the improved vaccine response from the UK. GBP Markets
There are two important ways to save on Foreign Exchange, the first is minimising unnecessary or excessive costs and fees, and the other is to transact when the exchange rate is in your favour.
Reduce Excessive costs and fees
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate).
The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
This is always a difficult question as exchange rates are influenced by many factors, so a good method to consider the New Zealand dollar vs Pound Sterling current value is to look the NZD/GBP historic rate and change over a range of periods.
The following table looks at the change in the NZD to GBP exchange rate over periods from the previous week back to the last 10 years.
28 Apr 2021
05 Apr 2021
04 Feb 2021
05 May 2020
06 May 2016
08 May 2011
NZD/GBP 10 year historic rates & change to 05-May-2021 : 0.5190
Will the New Zealand dollar rise against the Pound Sterling?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add NZD/GBP to your BestExchangeRates My Rates Watchlist to track and benefit from currency movements.
General advice: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any legal, accounting or financial decisions. The foreign exchange rates and products compared on this page and website are chosen from a range of products that bestexchangerates.com (BER) has access to and are not
representative of all the products available in the market.
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