FOREIGN EXCHANGE

Dominion, Volume 28, Issue 86, 5 January 1935, Page 14

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:— Buying. Selling.

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 rates quoted yesterday by the Bank of New South Wales, £1 New Zealand was worth approximately: 16/1 in London. £l/0/1 in Australia. 16/1} in U.S.A. 16/- in Canada. 9/7} in France. 9/9} in Italy. 9/42 in Germany. 9/4} in Java. . , £l/7/10 in Japan. Dollar Conversion Rates The Associated Banks have agreed that the conversion rates from December 31 -win be •— U.S.A. Canada Conversion of dollar bills received for - collection and sale ■of dollar’ drafts .. 4.58 4.86 Purchase of dollar bills .. 4.98 4.90 These conversion rates are, of course, quoted on a sterling basis (London funds) and current rate of exchange New Zealand 0n London will be charged or allowed as the case may require. Position of .Sterling By Telegraph.—Press Assn.—-Copyright. London, January 3. The following rates on foreign exchanges were current to-day, compared with those ruling on January 2:—

Price of Gold. .London, January 3. Gold—£7/l/6i per fine ounce. Dividends and Calls Dividends- Dae. National Bank of N.Z. —Int. at rate of 4 p.c. p.a To-day Bulolo Gold Dredging—interim, 90 cents Canadian, less tax of 5 p.c. Jan. 10 Mount Morgan^—lnt., Gd. a share Jan. 10 Placer Development—lnterim, 1 dollar 80 cents Canadian, less tax of 5 p.c Jan. 10 N.Z. and River Plate Co.—3 p.c. for year - Jan. 15 A. P. Assurance—2} p.c Pcb. 5 Commercial Bank of Aust.—interim, pref. 4 p.c. p.a.; ord. 5 p.c. p.a. Feb. 8 DIVIDEND UNCHANGED Commercial Bank of Australia A cable message received from head office, Melbourne, by Mr. E. P. Yaldwyn. manager of the Commercial Bank of Australia in New Zealand, states that an interim dividend for the six months ended December 31 will be paid on the preference shares nt the rate of 4 per cent, per annum and on the ordinary shares at the rale of 5 per cent, per annum. The dividend, which is at an unchanged rate, is payable *n Australian currency on February 8. Transfer books will dose on January 23. Union Bank of Australia By Telegraph.—Press Assn.—Copyright. London, January 3. The Union Bank of Australia reports net profits for the six months to August 31 at £106,998. The amount brought in was £104,032. The bank has declared an interim dividend at the rate of 5 per cent, per annum-

France — Francs to £1 N.Z. «... T.T. 60.23 O.D. 60.53 58.93 58.98 Noumea— Francs to £1 N.Z T.T. ,61.18 O.D. 61.58 58.18 58.23 Papeete— Francs to fl N.Z. .... T.T. 61.18 O.D. 61.58 58.18 58.23 Belgium— Belgas to fl N.Z T.T. 1L203 O.D. 17.303 16.503 16.518 Germany— Reichmarlts to £1 N.Z. T.T. — O.D. — 9.590 9.595 Italy— Lire to £1 N.Z T.T. — o.d: ■ 45.29 45.33 Switzerland — Francs to £1 N.Z T.T. 12.361 O.D. 12.436 11.961 11.971 Holland — Florins td £1 N.Z T.T. 5.952 O.D. 6.002 5.702 5.706 Java — Florins to £1 N.Z T.T. 5.915 O.D. 5.965 5.690 5.694 Japan— N.Z. pence to 1 yen T.T. — '17 21-32 Shanghai— N.Z. pence to 1 dollar T.T. 20J O.D. .201 21 11-16 215 India and Ceylon— N.Z. pence to 1 rupee T.T. 22 9-32 O.D. 22 5-32 22| 22 9-16 Hong-Kong— N.Z. pence to 1 dollar T.T. 25 19-32 O.D. 25 15-32 26 21-32 26 19-32 Singapore— N.Z. pence to 1 dot. T\T. 34 7-16 O.D. 84 5-16 355 35 5-16

Jan. 3. Jan. 2. Par. N. York, dol. to £ 4.92$ 4.94 : 14.806 Montreal, dol. to £ , 4.88$ 4.891 4.866 Paris, ' fr. to £ 74 7-32 74 17-32 124.21 Brussels, bel. to £ 20.93 21.01 35.00 Geneva, fr. to £ 15.105 15.175 25.225 Amst’dam, fl, to £ 7.24 7.27 12.107 .Milan, lire to £ 57.25 57 9-16 92.46 Berlin, inks, to £ 12.10 12.255 20.43 St’holm.. knr. to £ 10.395 19.395 18.159 C’hagen, knr. to £ Oslo. knr. to £ 22.395 19.995. 22.305 IS. 159 19.995 18.159 Vienna, scbgs. to £ 20.625 26.625 34.u8o Prague, knr. to £ 117.50 117 15-16 1194.25 Hel'fors, mks. to £ 226.50 226.50 193.23 Madrid, pcs. to £ 35 13-16 36 25.225 Lisbon, esc. to £ 110.125 110.125 110 Athens, drach. to £ •516 •517 375 Belgrade, din. to £ 216 217 276.31 Bucharest, lei- to £ 490 490 813.60 Warsaw. zloty to £ 26.06 —— 43.38 Kio de J., p. to mH. 14} 5.899 B. Aires, p. to peso 136} 47.62 M. Video, p. to peso 139 7-8 j3i>5-8 51 Calcutta, p. to rup. 18 1-16 181-16 18 Shanghai, p. to dol — 1613-16 —— H.-Kong. p. to dol. 201 201 Y’hama, p. to yen 14 14 24.582 Batavia, fl. to £ 7.235 7.265 12.107 official. •Sellers. tPar 8.23 31-32 since dollar devaluation on February 1. 1934.