Good time to plan a ski holiday to New Zealand
With the Kiwi dollar expected to fall further against its Australian namesake in the coming months, all those planning a ski holiday this winter should consider New Zealand as a potential destination.
- Check out 7 holiday money-wasters (and how to avoid them)
The NBR reported that the Kiwi may trade between 68 US cents and 71.80 cents this week, according to a BusinessDesk survey of 12 currency advisers. The Kiwi currency dropped last week after the Reserve Bank of New Zealand slashed the interest rate by 25 basis points to 3.25%.
Meanwhile, the Australian dollar is worth 77.65 US cents. This means that it’s a good time for Aussies to plan a holiday to New Zealand to get good value for their money.
According to Business Insider Australia, CBA’s foreign exchange and interest rate strategy team, believe the AUD/NZD cross will likely lift towards 1.12 on divergent monetary policy stances between the RBNZ and RBA.
If the CBA’s call is correct, a holiday in New Zealand could be about 1.3% cheaper in the months ahead.