What's happened to the GBP value?

silversurfer · 2 Mar 2010 at 00:11

http://online.barrons.com/article/SB126745539498353847.html?mod=djembdr_h

[FnG]magnolia · 2 Mar 2010 at 00:17

The OP is talking specifically about NZ <> GBP transactions.

Energize · 2 Mar 2010 at 00:40

I believe gordon brown said something about not focusing on the value of the pound and improving the economy at the cost of cancer patients.

digipeep · 2 Mar 2010 at 00:48

We all need people to get Behind Gordon Brown, he is the only person who can save the planet. Don't **** with Gordon or you will get it.

[FnG]magnolia · 2 Mar 2010 at 01:02

digipeep said:
We all need people to get Behind Gordon Brown, he is the only person who can save the planet. Don't **** with Gordon or you will get it.

The OP is talking specifically about NZ <> GBP transactions.

Your political views are irrelevant.

A2Z · 2 Mar 2010 at 01:46

Im in a similar situation in that I'm looking to go to Brazil for 6 months in Sep, and will probably move there within a few years...and Pound has been dropping against the Real every day, really makes me sad

When I was there just over a year and abit ago it was £1 to 3.6R, and now its at 2.7 :eek:

mmj_uk · 2 Mar 2010 at 01:55

I don't think any currency is safe right now, you're better off owning commodities than letting the worlds governments inflate your savings away.

Strife212 · 2 Mar 2010 at 02:01

I really started buying loads of things from abroad just after the pound collapsed from $2.1

digipeep · 2 Mar 2010 at 02:11

[FnG]magnolia;16068820 said:
Your political views are irrelevant.

Your sense of homour needs looking into, but I'll excuse you.

My mate was on a flight from London to Auckland a while back, as he was about to land in Auckland, the pilot said the weather was 20C and told the passengers to set their clocks back 20 years.

Sankari · 2 Mar 2010 at 02:17

digipeep said:
Your sense of homour needs looking into, but I'll excuse you.

My mate was on a flight from London to Auckland a while back, as he was about to land in Auckland, the pilot said the weather was 20C and told the passengers to set their clocks back 20 years.

Yeah, I remember that. He also said: "So for most of you, that will mean a return to the 90s, but for the Brits it means you're back in the late 19th Century."

digipeep · 2 Mar 2010 at 02:26

An Aussie backing up a Kiwi, gawd what fun you lot have down under.

Sankari · 2 Mar 2010 at 02:31

digipeep said:
An Aussie backing up a Kiwi, gawd what fun you lot have down under.

Magnolia is British IIRC. He emigrated to NZ last year.

ralv585 · 2 Mar 2010 at 04:01

I'm out in Korea at the moment and i always check the value before i go out. The higest was £1 = 1851 WON, now it's £1 = 1720 WON

Glad i withdrew quite a bit of money beforehand, paying with my card would give me less bang for my buck as you would say.

[FnG]magnolia · 2 Mar 2010 at 04:24

Evangelion said:
Magnolia is British IIRC. He emigrated to NZ last year.

I am and we did. Are you settled yet, Evangelion, or still re-adjusting to sun and sunburn?

digipeep - I'm offering real, actual experience of the effects and issues the OP is facing. What are you adding to the the thread, other than a +1 post count empty of thought or advice?

Sankari · 2 Mar 2010 at 04:52

[FnG]magnolia;16069079 said:
I am and we did. Are you settled yet, Evangelion, or still re-adjusting to sun and sunburn?

Settled pretty well, thanks. Fortunately the worst of the heat is over now, so it will only get better for the rest of the year.

Andrew_McP · 2 Mar 2010 at 05:53

Totality said:
I thought we were meant to be coming out of the recession

Unless you've lost your job, this has been a phoney recession so far. That is because we haven't started paying for the "rescue" yet, and the markets know it.

The rescue involved throwing a lead weight of debt to an economy aleady drowning in debt. The future's bright... if you can hold your breath for a decade or so. :-)

As for the pound's value? Well, against the dollar it should keep a fair amount of value. Both nations are a mess, though the dollar has the advantage of being the world's reserve currency, and may hold up better than us in the short term.

Against "commodity" currencies like the Australian or Canadian dollars, or the Brazilian real, I'd expect the pound to trend downwards for the foreseeable future. And stay down.

The euro is more interesting. If they let Greece (& Spain & Ireland) go to the wall, the euro may rise significantly (tough love). If they insist on rescuing Greece, then it'll probably weaken against everything including us.

We are living in very interesting times. But working out how to stop your savings evaporate is a nightmare, especailly if you need to take money out of the country.

Andrew McP

dowie · 2 Mar 2010 at 10:53

Totality said:
How long do people reckon it will take to recover up the way, if at all? Would 6 months be a good bet or is it stuffed?

If anyone could actually answer that with any degree of certainty then they'd quickly become one of the richest people in the world.

The reality is that its all quite random and no-one can accurately predict where a particular market will be in 6 months time. Plenty of people delude themselves into thinking they can though.

Le_Petit_Lapin · 2 Mar 2010 at 11:04

cymatty said:
The current downward trend is because the market fears a hung parliament.

Now we're talking! I'll bring the rope!

clv101 · 2 Mar 2010 at 11:07

Totality said:
I thought we were meant to be coming out of the recession...

Don't believe the hype. The UK's financial situation is considerable worse today than it was two years ago. We are one of the most indebted counties in the world.

anything I don't mind · 2 Mar 2010 at 11:09

not just the £ it is pretty much all the currencies are flaky at the moment.

id say get out of paper altogether if you can.