FOREIGN EXCHANGE

Dominion, Volume 28, Issue 85, 4 January 1935, Page 12

FOREIGN EXCHANGE

On New Zealand Currency Basis

LATEST QUOTATIONS

The Bank of New South Wales, Wellington, Quoted the following rates for their purchases and sales of foreign exchange yesterday:—

T.T. represents telegraphic transfers. O.D. represents on demand transactions. ... The above rates are subject to alteration without notice. New Zealand Pound Abroad Based on the Tates quoted yesterday by the Bank of New South. Wales, £1 New Zealand was worth approximately: 16/1 in London. £l/0/1 in Australia. 16/lf in U.S.A. 16/- in Canada. 0/61 in France. ' 9/101 in Italy. 9/5 in Germany . 9/51 in Java. £l/7/10 in Japan. .■ . Dollar Conversion Rates The Associated Banks have agreed that the conversion rates from. December 31 will be:— U.S.A Canada Conversion of dollar bills received for collection and sale of dollar drafts .. 4.88 4.86 Purchase of dollar bills .. 4.08 4.96 These conversion ra’tes are, of course, quoted on a sterling basis (London funds) and current rate of exchange New Zealand on London will be charged or allowed as the case may require. Position of Sterling By Telegraph.—Press Assn'.—Copyright. ' London, January 2. The following rates on foreign exchanges were current to-day, compared with those ruling on December 31:—

’jPar, 8.23 31-32 since dollar devaluation on February 1. 1034. Gold and Sliver. London, January 2. Gold—£7/0/101 per fine ounce. Sliver—Cash, 24 5-Bd. per ounce; forward, 24? d. LONDON STOCK EXCHANGE Gilt-edgeds Very Buoyant (British Official Wireless.) London, January 2. On the Stock Exchange to-day, the markets opened the New-Year’s business cheerfully. British Government stocks ■were firmer, with War Loan still higher at £lOB/16/3. Firmness was displayed in most sections of the stock markets to-day, the activity in industrials being a notable feature. Gilt-edgeds showed renewed buoyancy, and at the close werj quoted appreciably higher, War Doan, 34 per cent, touching a new high record of £lO9 7/6. Home railways declined on unsatisfactory holiday traffic returns for last week. The aggregate receipts of all four main line railways for the past year, however, show a very substantial increase on those for 1933. The total traffic receipts for 1934 were £148,890,000, representing an increase over the 1933 takings of £5,035,000. By Telegraph.—Press Assn.—Copyright. London, January 2. On the London Stock Exchange quotations of bank shares and other corporation. debentures and stocks compare with previous Quotations as follow:—

France— Buying. 60.53 60.83 Selling. 59.23 59.28 Francs to £1 N.Z. .... T.T. O.D. Noumea — Francs to £1 58.48 N.Z T.T. 61.48 OD. 61.88 58.53 Papeete— Francs to £1 58.48 N.Z T.T. 61.48 O.D. 61.8S 58.53 Belgium— Belgas to £1 N.Z T.T. 17.259 16.559 O.D. 17.359 16.574 Germany— Reichmarks 9.634 tn £1 N.Z. T.T. — O.D. — 9.639 *\ Italy— Lire to £1 45.50 N.Z. .... T.T. — O.D. — 45.54 Switzerland — Francs to £1 12.417 12.017 N.Z T.T. O.D. 12.492 12.027 Holland— Florins to £1 5.978 . ■5.728 N.Z. .... T.T. O.D. 6.028 5.732 Java — Florins to £1 5.947 5.722 N.Z T.T. O.D. 5.997 5.726 Japan— N.Z. pence to 1 yen T.T. — 17 21-32 Shanghai— N.Z. pence to 1 dollar T.T. 20 7-32 21 17-32 O.D. 20 3-32 21 15-32 India and Ceylon— N.Z. pence to 1 rupee T.T. 22 9-32 226 OtD. 22 5-32 22 9-16 Hong-Kong— N.Z. pence to 1 dollar T.T. 25 9-32 26 11-32 O.D. 25 5-32 26 9-32 Singapore— N.Z. pence to 1 dol. T.T. 34 7-16 35J O.D. 34 5-16 35 5-16

Jan. 2. Dec. 31. Par. N. York, dol. to £ 4.94 4.941 $4,866 Montreal, dol. to 4.89} 4.911-8 4.866 Paris, fr. to £ 7417-32 74 23-32 124.21 Brussels, bel. to £ 21.01 . 21.03 35.00 Geneva,' fr. to X*. 15. 173 15.235 25.225 Amst’dam, fl. to £ 7.27 7.29 12.107 Milan, lire to £ 57 9-16 57.625 92.46 Berlin, mks. to £ ' 12.255 12.26 20.43 St’holm. knr. to £ 19.395 19.395 18.159 C’liagen, knr. to £' 22.395 22.395 18.159 Oslo, knr. to £ 19.905 19.905 18.159 Vienna, schgs. to X? 26.025 26.625 34.585 Prague, knr. to £ 11715-1611715-16164.25 Hel’fors, mks. to £ 226.50 226.50 193.23 Madrid, pes. to £ 36 361-32 .25.225 Lisbon, esc. to £ 110.125 110.125 110 Athens, drach. to £ ♦517 •517 375 Belgrade, din. to £ 217 217 - 276.31 Bucharest, lei to xy 490 490 813.60 Warsaw, zloty to £ —— —- 43.38 Rio de n, to mil. tit 74} 5.899 B. Aires, p. to peso 136} t36} 47.62 M. Video, p. to peso f39 5-8 |39 5-8 51 Calcutta, p. to rup. IS 1-16 181-16 18 Shanghai, p. to dol. 16 13-16 16 13,16 — H.-Kong, p. to dol. 20} 20} — T’hama, p. to yen 14- ' 14 24.5S2 Batavia, fl. to £ 7.265 7.26' 12.107 tSellers, official. ♦Sellers.

previous quotations Dee. 18. Jan. 2. Bank — £ s. d. £ s. d. Australasia 8 17 6 9 0 0 New South Wales 24 0 0 24 0 0 Union of Aust. .. 6 12 6 6 10 0 National of N.Z. . 2 13 6 , 2 14 3 E.S. and A 4 4 4i 4 .2 9 Bank of N.Z. n 2 6 2 3 9 N.Z. Ix)an & Merc. 4 p.c. debent. .. 93 7 6 93 0 0 N.Z. Boan. & Merc. 37 w 0 37 10 0