FOREIGN EXCHANGE

Dominion, Volume 28, Issue 87, 7 January 1935, Page 10

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 oxchange on Saturday:—

T.T. represents telegraphic transfers. O.D. lepresenis on demand transactloTh'e above rates are subject to alteration without notice. New Zealand Pound Abroad Based on the rates quoted onSaturday by the Bank of New South Wales, ±1 New Zealand was worth approximately. 16/1 in London. £l/0/1 in Australia. 16/15 in U.S.A. 16/- in Canada. 9/6 in France. 9/9J in Italy. « 9/4J in Germany. 9/4} in Java. £l/7/10 in Japan. Gold and Silver. ' London. January 4. Gold—£7/2/7 per fine ounce. 1 London, January o. Gohl—£7/1/7} per fine ounce. Sterling exchange, London .on New York, 4.92 1-16 dollars, on Pans (4 o-lo francs, on Batavia, 7.235 florins. BASE METALS MARKET Prices Generally Firmer By Telegraph.—Press Assn. —Copyright. (Received January 6, 5.30 p.m.) _ Sydney, January o. The official London (middle) quotations for Friday, as reported by the Australian Mines and Metals Association, compare as under with those previously cabled:—

Trices of Other Metals. Ixindon, January 4. Pig iron: Home trade, £3/7/6 a ton (same): export. £3/2/6 a ton (same). , Antimony: British,- £74/10/- a. ton (same); foreign, £57/5/- a ton (£*s7). Molybdenite: 34/G a unit (same). Wolfram: 38/6 a unit (same). Osmiridium: Not quoted. RAW MATERIALS Improvement in Prices By Telegraph.—Press Assn. —Copyright. (Received January 6, 6.30 p.m.) London, January 5. Friday's closing prices for the following raw materials were as follow, those for December 28 being in parentheses:— Cotton : Liverpool quotation, good American middling, spot, 7.23 d. a lb. (7.20 d. ; February delivery, 6.93 d. a lb. (6.87 d. Rubber: Para, sd. a lb. (same) ; plantation smoked ribbed sheet, 6 5-Bd. a lb. (6jd.). Jute: January-February shipment, Indian jute, Dundee quotation, £l7/12/6 a ton (£l7/7/6). Copra: January-February shipment, South Sea, £9/5/- a ton (£9) ; smoked, £9/10/- a ton (£9) : . plantation Rabaul, £lO/5/-a ton (£9/12/6). Linseed oil: £2O/15/- a ton (£l9 15/-). Turpentine: 45/6 a cwt. (44/6). LONDON WOOL SALES Firmer Prices Expected The Bank of New Zealand, Produce Department, has been advised by its London office, under date January 4, that the prospects for all kinds of wool at next series, commencing January 15, are favourable. Prices for merino are generally, expected to advance a halfpenny per lb., with crossbreds fully firm with an upward tendency. British Treasury Bills (British Official Wireless.) Rugby. January 4. Tlte total amount applied for in tenders for £30.000.000 of treasury bills, was £49.560,000. The amount allotted in bills nt 3 months was £27,500,000. The average rate per eent. was 6/1.644., ns against 6/lX)6d, last week.

Buying. Selling. France — Francs to £1 N.Z T.T. 60.33 59.03 O.D. 60.63 59.08 Noumea — 1 Francs to £1 61.28 58.28 N.Z T.T. O.D. 61.68 58.33 Papeete— Francs to £1 61.28 58.28 NJZ T.T. O.D. 61.68 58.33 Belgium— Belga s to £1 N.Z T.T. 17.207 16.507 O.D. 17.307 16.522 Germany— Beichmarks 9.586 to £1 N.Z. T.T. , — O.D. — 9.591 •Italy— Lire to £1 45.37 45.41 N.Z T.T. O.D. — Switzerland — Francs to £1 N.Z T.T. 12.373 11.973 O.D. 12.448 11.983 Holland — Florins to £1 5.954 6.004 5.704 5.708 N.Z T.T. O.D. JavaFlorins to £1 N.Z T.T. O.D. 5.907 5.957 5.682 5.686 Japan— » N.Z. pence to 1 yen T.T. — 17 21-32 Shanghai— N.Z. pence to 1 dollar T.T. 20 7-16 O.D. 20 5-16 21J ■ 21 11-16 India and Ceylon— N.Z. pence to 1 rupee T.T. O.D. 22 9-32 22 5-32 ■ 22 9-16 Hong-Kong— N.Z. pence to 1 dollar T.T. . 25 21-32 26 23-32 O.D ..25 17-32 26 21-32 Singapore — N.Z. pence to 1 dol. T.T. *34 7-16 35i O.D. 34 5-16 35 5-16

.Tan. 3. Per ton. .Tan. 4. Per ton. Copper— £ s. •28 9 d. 41 £ s. 28 14 d. 4i Standard, forward' 29 18 11 29 3 li ♦Electrolytic to 31 15 S3 5 0 0 32 0 32 5 0 Wire bars 33 5 0 32 5 0 Lead— 10 5 0 10 6 3 Fo rwii rd 10 11 3 10 12 6 Spelter— 11 18 9 12 1 3 12 5 0 12 7 6 Tin— 228 8 9 228 13 9 228 G 3 22S 8 9 Silver — Standard, per oz. . 245-Sd. 2411-16d. Fine 26 9-lGd. 23 5-8d