Author, Andy Brown
Here you’ll find the highs, lows & averages of GBP to NZD. This information should help you decide whether it’s a good or bad time to exchange money between Pound Sterling and New Zealand Dollars and ultimately help you achieve a better exchange rate.
Highest GBP to NZD rate ever
The British Pound to New Zealand Dollar exchange rate increased to an all-time high of $3.7209 on 8th September 1992.
This was as the UK government worked hard to bolster the strength of the Pound in an attempt to prevent Black Wednesday.
Lowest GBP to NZD rate ever
The British Pound to New Zealand Dollar exchange rate hit an all-time low of $1.6809 on 8th November 2016.
In late 2016 the New Zealand Dollar gained to an impressive position of strength, partly due to achieving 2% interest rates, the highest in the G10.
This went on to push the New Zealand Dollar to an all-time high against the Pound.
Average GBP to NZD rate
Measuring the current exchange rate against historical averages can be a great way to see whether it is a good time to transfer Pound Sterling to New Zealand Dollars.
The average GBP to NZD rate over the last 10 years is $1.9600
The average GBP to NZD rate over the last 5 years is $1.9176
The rate over that time has also fluctuated greatly.
Over the last 10 years, we’ve seen a peak of $2.4596 and a low of $1.6809. There was also less than 2 years between those two figures.
This shows us that exchange rates can change dramatically over time.
Is it a good time to buy New Zealand Dollars?
If you’re exchanging Pound Sterling for New Zealand Dollars, it is best to buy when the rate is high.
A higher rate means you’ll get more New Zealand Dollars for every Pound.
Over the past 3 years, the GBP to NZD rate has mostly hovered between 1.8 and 2. This is the mark against which you should be comparing the current GBP to NZD exchange rate.
A rate towards the higher end of that scale is likely to indicate a good time to buy New Zealand Dollars.
On the contrary, a rate towards the lower end of the scale means it could be a beneficial time to sell New Zealand Dollars and buy Pound Sterling.
GBP to NZD forecasts (some practical advice)
It can be easy to get sucked into exchange rate market forecasts.
But try not to get too carried away.
Market predictions can often be more about publicity for market analysts rather than being accurate and correct.
There are always contrasting opinions and uncertainty. Nothing can ever be certain.
Even when you think you’re onto a sure thing, the market can always change unexpectedly.
When it comes to forecasting, in my experience, it’s often best to pay attention to the current price action.
You can also get an idea of the GBP/NZD trends by following technical analysis.
Technical analysis uses historical data and trends to make a best prediction for future movements in the exchange rate.
The GBP/NZD technical analysis on investing.com is an excellent option to use.
This gives you a tidy and digestible layout to view technical analysis of exchange rates.
In this instance, it’s set to a detailed hourly analysis, but you can tweak this to longer timeframes to suit you and how much data you want to consider.
However, remember that all forecasts and predictions are uncertain and have some degree of judgement.
Comparing exchange rate providers is the best and most effective way to save money on your international transfer.
And most importantly, don’t just accept the first rate you are offered.
Getting the best GBP to NZD rate
Finding the best exchange rate for an international money transfer can be tricky.
Most people will know that high street banks aren’t the best place to find good value exchange rates.
Their rates are simply not the best you can find.
This is because a lot of the banks make large margins on exchange rates.
Not to mention they then add on an array of additional fees, which are often hidden later down the line.
Your best option for international money transfers are currency brokers or money transfer specialists.
There are no hidden fees with money transfer specialists, like Key Currency.
The live exchange rate you are quoted at the time is the exchange rate that you will get.
And, as specialists, you’re generally able to secure a better rate than those offered by high street banks.
This simplifies the process, and everything is transparent.
We also believe in delivering expert service throughout your transfer.
You will receive your own personal representative who will be on hand to guide you through the transfer.
They will also be able to help you navigate the fluctuating market, saving you from having to keep a constant watch on the Pound to New Zealand exchange rate.
If there’s a favourable move in the GBP to NZD exchange rate or a specific rate that you’re after, we at Key Currency can alert you as and when this happens.
Why most online GBP to NZD exchange rates are misleading
There are many great websites that provide live exchange rates of GBP to NZD.
With exchange rates readily available online, you would expect those rates to be easily accessible when the time comes to do an international money transfer.
Unfortunately, this isn’t the case.
The exchange rates you see online are not customer rates.
Exchange rates advertised online tend to be what’s known as ‘interbank rates’. This detail is usually hidden in the small print.
Banks use this rate to trade with other banks – and it isn’t what they offer to customers.
Currency exchange and comparison sites often use these interbank rates to get customers through the door.
Then customers often find out later that they’re unable to achieve these rates and that they’re used for “informational purposes only”.
You’re then left disappointed when you come to actually make your money transfer.
Getting a true and fair GBP to NZD exchange rate from a broker or specialist straight away, will save you time and prevent any frustration and confusion.
Need guidance on GBP/NZD exchange rates?
At Key Currency, we offer a personal, friendly and efficient international money transfer service.
Our team of experienced currency exchange representatives have a constant eye on the exchange rates and can help you understand the best time to transfer your GBP to NZD.
Most money transfer companies want to push you to use online trading systems.
This puts extra pressure on you to get the details and the timing correct. You could easily make a costly mistake with a lot of stress and effort.
Our philosophy at Key Currency is to personally guide you through the international money transfer.
We discuss the details and circumstances around every one of our clients’ transfers to ensure we secure the exchange rates at the best time.
We’re also independent and British-based and could get you better rates than banks and other providers.
Our service has a 5-star rating on Trustpilot, based on over 1,000 customer reviews.
And rest assured, Key Currency is an FCA regulated Authorised Payment Institution (No. 753989). All money transfers are conducted through safeguarded client accounts.
If you would like to compare our GBP/NZD rates, request a free quote below.