Squirt Posted March 20, 2012 Report Share Posted March 20, 2012 Really as per title, I have some foreign currency which I don't want to be losing cash on. So is there any way to tell when it will become stronger or weaker? Or do I want it to become weaker? :dunno: Sorry to be undescriptive but I don't know how to do so... Thanks Quote Link to comment Share on other sites More sharing options...
SHRPLS Posted March 20, 2012 Report Share Posted March 20, 2012 If your foreign cash is from the US or Europe you may be waiting a while. It is not so much that the NZD is strong rather than the other currencies are weak. GFC has messed the world up big time. On the bright side it is great for traveling overseas for us, except to Australia of course. Quote Link to comment Share on other sites More sharing options...
Squirt Posted March 20, 2012 Author Report Share Posted March 20, 2012 It's Singapore dollars, so :dunno: losing 10% when converting back... Quote Link to comment Share on other sites More sharing options...
blueether Posted March 20, 2012 Report Share Posted March 20, 2012 The best way to make the NZD strong againgst the GBP was to come home from the UK after 10 years, all you have to do is wait a few weeks to get settled back home and you will find that 10 years of savings have lost close to 14% of their worth :sage: (it did come back up by the time we needed to get it all back here, lost on average about 10%). You want the NZD week against the other. Quote Link to comment Share on other sites More sharing options...
SHRPLS Posted March 20, 2012 Report Share Posted March 20, 2012 http://www.x-rates.com/d/SGD/NZD/graph120.html Take a look at this website. Keep an eye on the rates and if they start getting worse then cash it in. It is always a gamble, but if you're in no hurry then sit on it for a while. On the other side of the coin, you can cash it in and start earning interest today. :thup: Quote Link to comment Share on other sites More sharing options...
Phantom Posted March 20, 2012 Report Share Posted March 20, 2012 If we could know the answer to this then we'd all be making money trading in FX, who needs a job! The NZD will eventually get weaker, but you might be waiting a few years. You'd want to be listening out for good news out of SE Asian markets and companies that operate in that region. When they do well, the NZD will weaken against them (they become stronger) and then you'll get more money back. I don't know of anything coming up that will weaken our dollar any time soon. Quote Link to comment Share on other sites More sharing options...
Squirt Posted March 20, 2012 Author Report Share Posted March 20, 2012 :roll: I'll probably wait until it drops from $1.10 to $1.05 hopefully it won't be too long. Quote Link to comment Share on other sites More sharing options...
phoenix44 Posted March 20, 2012 Report Share Posted March 20, 2012 The NZD / SGD usually trades at 1:1 and isn't the currency you would trade if you wanted to make money. I trade FX (without the intention of actively trading of course) :slfg: regularly but I wouldn't recommend you mess around with it if you only kind of know what you are doing. Money makers are usually NZD/USD, CHF/USD, and more recently NZD/EUR. Also remember that if you look up FX rates you'll probably be looking at the reuters info which is wholesale rates, and you'll have 100% shading so take a couple cents or more depending on currency per dollar against your favour. Either which way the NZD is pretty darn strong at the moment but watch it tumble as bank wholesale costs increase because of the US economy picking up. Quote Link to comment Share on other sites More sharing options...
Ira Posted March 20, 2012 Report Share Posted March 20, 2012 So, buy everything you can get from the US now before it gets worse. Quote Link to comment Share on other sites More sharing options...
Squirt Posted March 20, 2012 Author Report Share Posted March 20, 2012 I never was after making money, just not losing to much money. Had spare cash after a holiday. Guess I should've spent more :roll: Quote Link to comment Share on other sites More sharing options...
GrahamC Posted March 20, 2012 Report Share Posted March 20, 2012 You could try selling them on TM If it's only a few hundred, might as well hang on to them for the next trip to Sg. Brunei also accepts Sg $. Quote Link to comment Share on other sites More sharing options...
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