Further on from our last post about the Reserve Bank anouncement in New Zealand and the dollar has hit close to a five month low against the Aussie dollar. This comes largely on the bank of the Reserve banks statement, which inclinated that there will be no interest rate rises before the years end. By comparison the Reserve Bank of Australia noted that rates are likely to increase, largely driven by the mining sector, in an attempt to combat inflation.
With unemployment figures sitting at a very low 5% in Australia it is likely that interest rates will rise throughout the year. With the Aussie dollar riding so high, its a great time to send some money back to New Zealand. Both the Aussie and Kiwi dollar made ground against Sterling last week.
Here at OrbitRemit we have just extended our free payment offer so any new customers registering to use our service will receive their first payment free of charge. Please visit www.orbitremit.com and selcet the country you are in for full information.
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