Kiwi Hacks: Top Tips on Currency Exchange

Written by Julia Holmes.

colin watts 8WRRJ4xJeyg unsplash 1This month, Kiwi Hacks investigates what you need to know around currency exchange. Geraldine Collett, Business Development Manager at currency specialist, Halo Financial, offers answers to the most frequently asked questions on making cost-effective international money transfers safely. 

“We get asked these questions time and time again,” says Geraldine, “so we hope you find the team’s answers useful. The British Pound is really strong against the New Zealand Dollar at the moment, so many Halo clients are asking how they can make the most of this to maximise any international payments or currency transfers they are making, whether that’s to family back home in turbulent times, for bills, salaries, school fees, or any other important international money transfers.”

So read on for some top tips...

1. How much difference do exchange rates really make to my money?

The simple answer is a big difference! Current economic events have pushed the Pound up so that interbank rates – the rates at which banks buy and sell currency to each other – are pricing over two NZD to the Pound. This is a dramatic change in exchange rates from even earlier this year and means that in the current market, you will get far more New ZealandDollars for your money if you need to send money back home. Currency markets move all the time, however, in response to a number of global influences, and can easily catch you off guard if you are not aware and prepared.

2. What affects currency exchange rates?

Political and economic pressures all affect currency strength and move the rates between specific currency pairs, such as GBP-NZD. Domestic economic data in the UK and New Zealand affects the performance of the Pound and New Zealand Dollar respectively. The Kiwi Dollar is also susceptible to economic influences from Asia Pacific, particularly the Chinese economy with its close export ties to New Zealand. Currency specialists keep track of all the factors affecting currency markets and track what this means for different currency pairings and individual clients’ foreign exchange requirements.

3. What else should I watch for?

Another important factor to affect NZD is ever-changing commodity markets. In recent times, disappointing data coming from China, economic concerns at home in New Zealand and political developments such as Brexit have all had a noticeable impact on currency markets, as well as the price of oil and, of course, the biggest shock of all, the current coronavirus crisis.

4. What’s the best way to exchange Pounds to and from New Zealand Dollars?

There are a number of savvy ways to make your international money transfers. A popular way to protect payments from fast exchange rate fluctuations and still make the most of the best rates available is an automated order. These specialist currency tools allow you to set a rate by “placing an order into the market”, so your currency transfer will go through when the exchange rate reaches the level you have set.

5. I’m new to all this and am still wary of making my currency exchange anywhere other than my bank/bureau de change. Where can I get more information and help?

Geraldine Collett is Business Development Manager at currency specialist, Halo Financial, an FCA authorised firm which has helped people and businesses to make their international money transfers easily and more cost effectively since 2004. All Halo Financial clients have a dedicated Currency Consultant, here to help you make the most of your foreign exchange, providing a personally tailored service and currency strategy for every individual. They also provide daily, weekly, monthly and quarterly online updates on currency market movements and what they mean for your money.

Halo Financial has partnered with NZBWN to offer their specialist currency services and great exchange rates to members. Find out more at You can also email Geraldine directly at or call, quoting NZBWN, on 020
7350 5474.

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