FOREIGN EXCHANGE

Dominion, Volume 28, Issue 90, 10 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. tepresenis 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. 16/01 in U.S.A. 15/111 in Canada. 9/6 in France. 9/9} in Italy. 9/41 in Germany. 9/41 in Java. £l/7/10 in* Japan. Position of Sterling By Telegraph. Press Assn. —Copyright. London, January S. The following rates on foreign exchanges were current to’-day. compared with those ruling on January 7: - Jan. 8. Jan. 7. Par. N. York, dol. to £ +.!» 1-8 4.914 +.8«6 Montreal, dol. to £ +.81)1 +.885 4.BCG Paris, fr. to £ 74 7-32 7+3-32 124.21 Brussels, bel. to £ 20.90 20.80 35.00 Geneva, fr. to £ 15.12 13.095 25.225 Amst’dam, fl. to £ 7.2+5 7.235 12.107 Milan, lire to £ 57 9-16 57 3-16 92.46 Berlin, mks. to £ 12.20 12,19 20.43 St’holm.. knr. to £ 19.395 19.395 18.150 C'hagen, knr. to £ 22.395 22.395 18.159 Oslo, knr. to £ 19.905. 19.905 18.159 Vienna, schgs. io £ 26.625 26.625 34.585 Prague, knr. to £ 1173,16 117.25 164.25 I-lel’fors, mks. to £ 226.50 226.50 193.23 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 £ 216 216 276.3 t Bucharest, lei to £ 41)0 490 813.60 Warsaw, zloty to £ — — 43.38 Rio de J., p. to mH. t+i t+) 5.899 B. Aires, p. to peso 136} I'36} 17.62 M. Video, p. to peso t+o 140 51 Calcutta, p. to nip. 181-16 181-16 18 Shanghai, p. to dol. 16 7-8 17 — H.-Kong, p. to dol. 20J 20} — Y’haina, p. to yen 1+ 14 24.582 Batavia, , fl. to £ 7.205 7.205 12.107 (•Sellers. official. ‘Sellers. Par, 8.23 31-32 since dollar devaluation on February 1. 193+. Gold and Silver. London. January 8. Gold—£7/2/- per fine ounce. Silver—Cash, 24 u-IGd. per ounce: forward, 24 7-16 d. Customs Exchange Rates Rates of exchange ruling at the announced dates of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department, when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked* : — Sydney Marti, Hong-Kong, dollars a, 201d. Sydney Maru. Japan. Ven *l4d. Canadian Britisher. Canada, dollars 4.81} Indlen, Canada, dollars *4.85 Indien. America, dollars *4.95 Benholm, America, dollars 4.941-16 Aorangi'. Canada, dollars 4.891 Walkawa, America, dollars 4.93 9-16 Golden clond. America, dollars .. 4.93 3-16 Dollar Conversion Rates Th? Associated Banks have agreed that the conversion rates from January 7 will be:— n.S.A Canada Conversion of dollar bills received for collection and sale of dollar drafts .. 4.87 *I.S4 Purchase of dollar bills .. 4.97 4.94 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 as th? case may require. LONDON EXCHANGE Associated Banks" Rates The associated bn'iks trading in New Zealand have adopted the following rates of exchange ou Lntidon as from Angus* 1 :— XEW ZEALAND ON LONDON.

Consequent upon the above adjustment in London exchange rates, the following rates between New Zealand and Australia were adopted as from August 1 :— NEW ZEALAND ON AUSTRALIA. Buying Rate. Selling Rate. £lOl £lOO 10 0 Basis £lOO New Zealand.

Buying. Selling (•'ranee— Francs to £1 N.Z T.T. O.D. CO. 28 60.58 58.98 59.03 Noumea— Francs to £1 N.Z T.T. ' O.D. 61.23 61.63 5&28 Papeete— Francs to £1 N.Z T.T. O.D. 61.23 61.63 58.23 58.28 Belgium— Belgas to £1 T.T. O.D. 17.195 17.295 16.495 16.510 Germany— Keiehmarlts t 0 £1 N.Z. T.T. O.D. 9.602 9.607 Italy— Lire to £1 N.Z T.T. O.D. — 45.33 45.37 Switzerland— Francs to £1 N.Z T.T. O.D. 12.373 12.448 11.973 11.983 HollandFiori ns to £1 N.Z T.T. O.D. 5.956 6.006 5.706 5.710 Java — Florins to £1 N.Z T.T. O.D. 5.915 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. O.D. 20 1-16 19 15-16 India and Ceylon— N.Z; pence to 1 rupee T.T. O.D. 22 9-32 22 5-32 Hong-Kong— N.Z. pence to 1 dollar T.T. O.D. 25 9-32 25 5-32 26 11-32 26 9-32 Singapore— N.Z. pence to 1 dol. T T. O.D. 34 7-16 34 5-16 35? 35 5-16

Buying. Selling. £ (1. £ fl. d. 124 '() 0 T.T. 124 10 0 123 10 0 Demand 124 7 6 123 9 0 3 days 123 }) 0 30 days 124 0 123 0 0 GO days 124 2 G 122 15 0 90 days 124 0 0 122 10 0 120 days Basis £100 London.