LONDON EXCHANGE

Dominion, Volume 28, Issue 83, 2 January 1935, Page 12

LONDON EXCHANGE

Associated Banks’ Rates

The associated banks trading in New Zealand have adopted the following rates of exchange on London as from August 1:—

NEW ZEALAND ON LONDON,

Basis £lOO London.

Consequent upon the above adjustment in London exchange rates, the following rates between New Zealand and AUS” tralia were adopted as from August NEW ZEALAND ON AUSTRALIA. Buying Rate. Selling Rate. ■ £lOl £lOO 10 0 Basis £lOO New Zealand. Dollar Conversion Rates The Associated Banks have agreed that the conversion rates from December 31 will 1)6 ’ U.SA. Canada Conversion of dollar bills received for collection nnd sale of dollar drafts .. 4-88 4.86 Purchase of dollar bills .. 4.98 4.96 These conversion rates are, of course, quoted on a sterling basis (London funds) and current rate of exchange New Zealand on London will be charged or allowed aa the case may require.

Position of Sterling

By Telegraph.—Press Assn.—Copyright.

London, December 3L The following rates on foreign exchanges were current to-day, compared with those ruling on December 28:—

Gold nnd Silver. London, December 31. Gold.—£7/1/- per fine ounce. Silver.—Spot, 24 5-Bd. per ounce; forward, 21Jd. London, December 29. Gold—£7/0/11} per fine ounce. Silver—Cash, 24 9-16 d. per ounce; forward, 24 11-164.

Buying £ s. 124 0 123 10 d. 0 0 T.T. Demand Selling. £ s. d. 124 10 0 124 7 6 123 9 0 3 days 123 5 0 30 days 124 B 0 123 0 0 60 days 124 2 6 122 15 0 90 days 124 0 0 122 10 0 120 days

Dec. 31. Dec. 28 Par. N. York dol. to £ 4.94} 4.935 74.806 Montreal, dol. to £ 4.911-8 4.915 4.860 Paris, fr. to £ 74 23-32 74 23-32124.21 Brussels, bel. to £ 21.03 21.02 35.00 Geneva, fr. to £ 15.235 15.22 25.225 Amst’dam, fl. to £ 7.29 7.29 12.107 Milan, lire to £ 57.625 57 21 32 92.46 Berlin, inks, to £ 12.26 12.27 20.43 St’holm. knr. to £ 19.395 19.395 18.159 C’hagen, knr. to £ Oslo, knr. to £ Vienna, schgs. to £ 22.395 19.905 22.395 19.905 18.159 18.159 26.625 20.75 34.585 Prague, knr. to £ 11715-16118 164.25 Hel'fors, inks, to £ Madrid, pes. to £ Lisbon, esc. to £ 226.50 361-32 110.125 220.50 36 3-32 110.125 193.23 25.225 110 Athens, drach. to £ ♦517 ♦517 3<5 Belgrade, to £ 217 217 270.31 813.60 43.38 Bucharest, lei to £ 490 490 Warsaw, zloty to £ -— Bio de J., p. to mil. tu 74} 5.899 B. Aires, p. to peso 136} 7301 47.62 M. Video, p. to peso 739 5-8 739 5-8 51 Calcutta, p. to rup. 18 1-16 181-16 18 Shanghai, p. to dol. 1613-16 10 13-10 ““ H.-Kong, p. to dol. Y’hama, p. to yen Batavia, fl. to £ 1 20} 14 7.26 20 5-8 14 7.28 24.5S2 12.107 tSellers. official. •Sellers. IPar 8.23 31-32 since dollar devaluation on February 1, 1934.