There has been a lot going on in the NZ economy. Financial companies are going bust, leaving poor old men and ladies broke without their retirement money. Property market has gone under. Cost of food is rising, and spending is falling. The Reserve Bank has been cutting rates left, right and centre. To cut a long story short, it's quite a mess!
All these events have resulted in a falling New Zealand dollar. The NZD has fallen 13% over the last 3 months and now sits weaker than the Singapore dollar! I'm mentally calculating how much money I've lost. #%@&$%)*
Currently, the exchange rate is at 1SGD to 1.069NZD. Previously it was approximately 1SGD to 0.9NZD.
I guess now I can go for my $70 haircut here and not feel so bad about it since it's equivalent to $65 back in Singapore. That's a discount of $5! That's my silver lining! Ha!
All these events have resulted in a falling New Zealand dollar. The NZD has fallen 13% over the last 3 months and now sits weaker than the Singapore dollar! I'm mentally calculating how much money I've lost. #%@&$%)*
Currently, the exchange rate is at 1SGD to 1.069NZD. Previously it was approximately 1SGD to 0.9NZD.
I guess now I can go for my $70 haircut here and not feel so bad about it since it's equivalent to $65 back in Singapore. That's a discount of $5! That's my silver lining! Ha!
1 comment:
yeah we've been monitoring the NZ dollar rates (and Aussie too) on the bloomberg quite a bit this week.. lots of BTV coverage on the shaky currencies. And there we all were barely a month ago raving about the lucrative foreign NZD Fixed deposit rates.
Nevertheless the Kiwi prime minister is gonna take steps to bolster market confidence i heard, and hopefully better economic figures come out for ECO NZ go.
In the meantime, enjoy your awesome discounted haircuts.. and if the kiwi ladies in the salon look at you all zippity-doodah joyous in puzzlement, just tell ém; "ladies, you wont understand, its a singaporean thing" hoho
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