Kiwi Dollar and NZ Banking
Posted on May 9, 2006
Tags: New Zealand, General rant |
The Kiwi Dollar is taking a nose dive against a strengthening US Dollar. I was lucky to buy some USD last night (well maybe not just lucky) before it lost amost 2 cents in the past 24 hours. The interesting thing I noticed is that my bank, ASB Bank does not update their exchange rate after 5pm but lets ppl transact at whatever rate was determined at the end of day. Although this sounds like there might be a lucrative opportunity here, the gigantic spread of about 3.5 cents ensures ASB won’t be terribly worried about this.
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I'm a stocks and futures day trader. I trade for a living in Thailand (Bangkok) and this blog serves as an outlet for myself to record my musing, ramblings and occasionally trading activity.
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