CURRENCY QUOTES

Press, Volume CV, Issue 30979, 8 February 1966, Page 21

CURRENCY QUOTES

Preparing For Change (N.Z. Press Association) WELLINGTON, Feb. 7. A change in the traditional wording of the AustralianNew Zealand currency rates of exchange quoted daily by the trading banks in this country will take place from February 14, change-over date for Australian decimal currency. Details were announced today bv the chairman of the New Zealand Bankers’ Association (Mr E. B. Williams). Since the inception of quoted rates of exchange between the two countries, quotations have traditionally been stated as a given number of Australian pounds “per £N.Z.100.” However, from February 14 all rates of exchange on Australia will be expressed as a given number of “units of Australian currency (to four decimal places) per £N.Z.I.” Standard Pattern This follows the standard pattern of quoting rates of exchange on overseas countries where decimal currency is in use.

Mr Williams added that from February 14 New Zealand. banks will quote their rate for selling Australian dollars as dollars 2.4800-£N.Z.I (formerly £AI24-£N.Z.IOO) and buying rates as:

T. T. (proceeds of telegraphic transfers) dollars A2.4908-£N.Z.I.

O ,D. (purchase of Australia cheques, travellers’ cheques, on demand drafts, etc.) Dollars A2.4998-£N.Z.I.

Notes (purchase of Australian notes) dollars A 2.5436£N.Z.I. Coin (purchase of Australian coin) dollars A 2.608N.Z.I.

In conformity with usual practice these rates of exchange are subject to alteration without notice.

METALS (N.Z P.A.-Reuter) LONDON, Feb. 4 Latest London Metal Exchange prices for spot supplies are as follows:

Buyers Sellers a on a ton £ s. d. £ s. d. Copper . 662 0 0 663 0 0 Tin . .1432 0 0 1434 0 0 Lead . 107 10 0 107 12 6 Zinc . 10S 5 0 108 10 0