I absolutely love travelling – the actual travelling, dreaming about travelling, planning travel.. all of it. But there is one thing I absolutely HATE about it – exchange rates. The New Zealand dollar is typically not very strong against most major currencies, but recently, it’s dropped a lot which makes it even more expensive to travel.
When I went to the states last year, the NZ Dollar was buying .88 US Dollars. 8 months later and that has now dropped to .66 USD. I exchanged $3,000NZD today and got a measly $1,992USD. It’s not just the US Dollar that’s so low either – the Pound and Euro rates are more than depressing; .40 and.60 respectively.
I desperately want to go to Europe one day but having to save up double the amount you want to exchange makes it less appealing. Our dollar almost hit parity with the Australian dollar earlier this year and even this has now dropped back to .87.
Our dollar buys .83 Canadian Dollars, so my plan is to do as much shopping as possible during our short stay in Toronto (Eaton Centre here we come!).
To top this all off, our Reserve Bank still thinks our dollar is “unsustainable and unjustifiable” so I’m sure this means we can expect it to drop even further.
Sorry for the crazy rant, it just drives me crazy! It already costs us more to travel due to New Zealand being as far away from the rest of the world as possible so having to deal with crappy exchange rates just worsens the deal.
*Disclaimer: yes, I realise this is totally a first world problem.