外幣買賣/定期

Question 1:
It depends on your purpose. I recommend opening a HKD savings account as well as a a foreign currency (NZD) savings account. You can choose to put most of the money into the NZD savings account, then you can turn any amount from it into time deposit. You can also let the money stay there, pocket the interest (about 2.5% for NZD savings), and wait for the right time to switch it back to HKD.

Question 2:
You can set your maturity instruction as transferring all the NZD in the time deposit to the NZD savings account. That way you can choose whether or when to convert the money back to HKD. Of course you can also choose to transfer all the money back to your HKD savings account right on the maturity day, in which case the exchange rate at the time of the transer will apply.

Note: It may not be a good time to buy NZD now. I would wait until the end of March 08, by which time it is speculated that the NZD will have dropped back to its previous levels.