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Thread ID: 77592	2007-03-15 04:06:00	Bank's FX rates	Nomad (952)	PC World Chat

Post ID	Timestamp	Content	User
533088	2007-03-15 04:06:00	Hi, Just been looking into FX rates. Some banks said the rates are the same if its cash, traveller chq or telegraphic transfer. I rang up BNZ earlier. You go online and it says $1USD = $1.37NZ. I told her that .. she goes online and say that is only an indicator, she then said there are diff rates for cash and t/t ..... I then went onto a diff bank. Tried their calculator out and cash and t/t was the same rates. However, the cash rate was never near BNZ's, I'm talking $1.37 (BNZ) vs $1.45 (others). Or is that the BNZ site's calculator is showing porkies?	Nomad (952)
533089	2007-03-15 04:39:00	Ok, checked their site. The table of rates is the same, not what the bank person said. 2nd. The calculator is not that dodgy. Its how its worded. If it says NZD to Foreign. It actually means buying foreign cash. It does not mean how much foreign currency from a XX NZD. If it says, Foreign to NZ, does not mean how much is USD if you are buying stuff cost you in the kiwi dollar. It means how much the bank will buy your foreign dollar for you and give you kiwi bucks like after your holiday. Less confusion, just get the buy and sell table and do the maths. LOL.	Nomad (952)
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