FOREIGN EXCHANGE

Dominion, Volume 28, Issue 89, 9 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. lepresenls 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. 16/0} in U.S.A. 15/11J in Canada. 9/5} in France. 9/9i in Italy. 9/4J in Germany. 9/4} in Java. £l/7/10 in Japtln. Position of Sterling By Telegraph. Press Assn.—Copyright. London, January 7. The following rates on foreign exchanges were current to-day i compared with those ruling on January s:— Jan. 7. Jau. 5. Par. N. York. dol. to £ 4.91} 4.92} 14.866 Montreal, dol. to £ 4.885 4.891-8 4.866 Paris., £r. to £ 74 3-32 74 9-32 124.21 Brussels, bel. to £ 20.8!) 20.93_ 35.01/ Geneva, fr. to £ 15.095 15,135 25.225 Amst’dam. fl. to £ 7.235 7.25 12.107 Milan; lira to £ 57 3-16 57 11-32 92.46 Berlin, inks, to £ 12.19 12.22 20.43 St’holm.. knr. to £ 10.395 19.395 18.159 C’hagen, knr. to £ 22.395 22.305 18.159 Oslo, knr. to £ 19.903 19.905 18.15!) Vienna, schgs. to £ 20.025 20.025 31.585 Prague, knr. to £ 117.25 117.25 104.25 Hel'fors, niks. to £ 220.50 226.50 193.23 Madrid, pes. to £ 35 27-32 35 27-32 25.225 Lisbon, esc. to £ 110.125 110.125 110 Athens, drach. to £ *516 *516 375 Belgrade, din, to £ 916 216 276.31 Bucharest, lei to £ 490 490 813.60 Warsaw, zloty to £ — — , 43.38 Bio de J,, p. to mil. T4J tG ' 5.899 B. Aires, p. to peso 1'30) t36J 47.62 M. Video, p. to peso t4O 739 7-8 51 Calcutta, p. : to rtip- 18 1-16 IS 1-10 18 Shanghai, p. to dol. 17 17 H.-Kong, p. to dol. 20} 20} — Y'hanta, p. to you If 14 24.582 Batavia, fl. to £ 7.205 7.235 12.107 fSellers, official. *Selicrs. (Par, 8.23 31-32 since dollar devaluation on February 1. 1934. Gold and Silver. London, January 7. Gold—£7/2/1 per flue ounce. Sliver—Cash, 24 9-16 d. per ounce; forward, 24 11-16 d. AUCKLAND WOOL Prospects For Second Sale Dominion Special Service. Auckland, January 8. The second Auckland wool sale will be held on January 22. Although this is a fortnight away, enough wool has accumulated in brokers’ stores for the closing of the catalogue to be a matter of only a day or two. A Unfit of 25,009 bales has been set for the second Auckland sale, aud each broker has his special allotment. In all cases this margin had almost been reached to-day. At the first sale in November 6360 bales were passed, which represented over 25 per cent, of the amount of the offering at the coming sale. In the meantime, active shearing all over the province has brought fresh clips in at a steady rate. Lambs' wool appears to be in shorter supply than at this period in previous years, while the coarser counts are in full supply. Generally, the wool is in very good average condition, and should not suffer on the score of quality. Thq,re is evidence of a large quantity of wool being held over until the third sale, irrespective of the market prospects at the present time. This, added to whatever may be passed at the coming Auckland sale, will help to throw large quantities on to the market at the end of March, when the clearing-up sale takes place. Dollar Conversion Rates The Associated Banks have agreed that the conversion rates from January 7 will be U.S.A. Canada Conversion of dollar bills received for collection and I sale of dollar drafts .. 4.87 . 4.81 Purchase of dollar bills .. 4.97 i.9l

These conversion rates nre, of course, quoted on n sterling basis (London funds) and current rate of exchange New Zealand on London will 'be charged or allowed as the case may require.

Buying. Selling. Erance— Francs to £1 N.Z T.T. GO. 18 58.88 O.D. 60.48 58.93 Noumea— Francs to £1 N.Z T.T. 61.13 5S.13 O.D. 61.53 58.18 Papeete— Francs to £1 N.Z T.T. 61.13 58.13 O.D. 61.53 58.18 Belgium— Belgas to £1 N.Z T.T. 17.155 16.455 O.D. 17.255 16.470 Germany— lleieliinarks to £1 N.Z. T.T. .—. 9.586 O.D. — 9.591 Italy:— Lire to £1 N.Z T.T. —- 45.27 O.D. — 45.31 Switzerland— Francs to £.1 N.Z T.T. 12.349 11.949 O.D. 12.424 11.959 Holland— Florins to £1 N.Z T.T. 5.946 5.696 O.D. 5.996 5.700 Java — Florins to £1 N.Z T.T. 5.907 5.682 OD. 5.957 5.686 Japan— N.Z. pence 17 21-32 to 1 yen T.T. — Shanghai— N.Z. pence to 21. 25-32 1 dollar T.T. 20 15-32 O.D. 20 11-32 21 23-32 India and Ceylon— N.Z. pence 228 to 1 rupee T.T. 22 9-32 O.D. 22 5-32 22 9-16 Hong-Kong— N.Z. pence 26i to 1 dollar T.T. 25 7-16 O.D. 25 5:16 26 7-16 Singapore— N.Z. pence 35J to 1 dol. T.T. 34 7-16 O.D. 34 5-16 35 5-16