FOREIGN EXCHANGE

Dominion, Volume 28, Issue 96, 17 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.— 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/- in U.S.A. 15/10 in Canada. 9/7$ in France. 9/10} in Italy. ’ 9/5$ in Germany. 9/4$ in Java. £l/7/11 in Japan. Position of Sterling Bv Telegraph.—Press Assn.—Copyright London. January 15. The following rates on foreign exchanges were current to-day. compared with those

Gold and Sliver. London, January 15. Gold—£7/2/4 per fine ounce. Silver—Cash. 24 9-16 d. per ounce; forward, 24 11-16 d. GOLD MINING Gillespie’s Beach The secretary of the Gillespie’s Beach Gold Dredging Co., Ltd., advises. that as dredging did not commence until Wednesday, January 9. there was no washup last week. There is now ample water available for the power-house. W.A. Gold Yield The Western Australian gold yield for December was 56.0240 z compared .with 57,0420 z. for November, and 55/j74oz. for December last year. The tolal output for 1934 was 651.3350 z., worth at par value £2 772.705. and 14.1310 z. in excess of the 1933 output. Australian Price of Gold The price fixed by the Commonweall r. Bank for gold, including jewellery, lodged at the Melbourne Mint for the week ended January 4, is nt the rate of approximately £B/0/9 per standard ounce (22 carats), equal to a premium of 106.44 per cent. Payment' is ma Id according to the assay value of the gold. The price is 1/2 higher on the week. The price.per ounce line is £S/15/5. a rise of 1/4 on the week. Colombo Tea Auction By Telegraph — Pres.- Association Dunedin, January 16. Mr. L. M. Wright has received the following cabled report on the Colombo tea auction of January 15: —At yesterday’s auction of 2,710,000 lbs. offered, common kinds were about Id dearer, mediums showed an advance of nearly Id, while line teas were 1 Jd (o 2d dearer. The quality of the offerings was attractive. At next week’s sale, 2,810.000 lbs. are catalogued for auction. Australian General Insurance The Australian General Insurance Co., Ltd., reports that, after providing for all known losses, the balance at credit of profit and loss account for the year ended December 31 last amounted to £12.031. The profi' for the previous year was £10,639. The directors have decided to recommend the payment of a dividend at the unchanged rate of S per cent., and to transfer £0431 to the contingent fund.

France—■ Francs to £1 T.T. O.D. 60.S3 01.13 59.53 59.58 Noumea— Francs to £.1 x.z T.T. 61.78 58.7S 0.1). 02.18 58.83 Papeete— Francs to £1 N.Z T.T. (11.78 58.78 O.D. 02.18 58.83 Belgium— Belgas to £1 N.Z T.T. 17.332 16.632 O.D. 17.432 16.647 Germany— Reielimarks to*£l N.Z T.T. — 96.54 O.D. — 96.59 Italy— Lire to £1 N.Z T.T. 45.78 O.D. — 45.82 Switzerland — Francs to £1 N.Z T.T. 12.486 12.086 O.D. 12.561 12.096 Holland— Florins to £1 x.z. T.T. 0.002 5.752 O.D. 6.052 5.756 Java— Florins to £1 N.Z T.T. 5.899 5.674 O.D. 5.949 5.678 Japan— N.Z. pence to 1 yen T.T. — 17 19-32 Shanghai— N.Z. pence to 21 27-32 1 dollar T.T. 20 17-32 O.D. 20 13-32 21 25-32 India and Ceylon— N.Z. pence 22 11-16 to 1 rupee T.T. 22 11-32 O.D. 22 7-32 22fi Hong-Kong— N.Z. pence 26 13-16 to 1 dollar T.T. 25} O.D. 25§ 265 Singapore— N.Z. pence to 1 dol. T.T. 34 7-16 3os O.D. 34 5-16 35 5-16

ruling on January 14: — N. York, dol. to £ Jan. 15. 4.85 Jan. 14. 4.80 5-16 1 Par. f4.866 Montreal, dol. to £ 4.841 4.8S 4.866 Paris, fr. to £ 74 27-32 74 5-32 124.21 Brussels, bel. to £ 21.10 20.93 35.00 - Geneva, fr. to £ lo.2u 15.11 25.225 Arnst’dam, fl. to £ 7.30 7.275 12.107 Milan, lire to £ 57.75 57 3-16 92.46 Berlin, niks. to £ 12.205 12.20 20.43 St’holm., knr. to £ 10.395 19.395 18.159 C’hagen, knr. to £j 22.305 22.395 18.159 Oslo, 1 knr. to £ 19.905 19.905 18.159 Vienna, schgB. to £ 26.025 26.625 34.585 Prague, knr. to £ 118 117.125 164.25 Hel'fors, mks. to £ 226.50 226.50 193.23 Madrid, pes. to £ 36.125 35 13-16 25.225 Lisbon, esc. to £ 110.125 110.125 110 Athens, draeh. to £ *515 *514 375 Belgrade, din. to £ 215 216 276.31 Bucharest, lei to £ 485 487.50 813.60 Warsaw, zloty to £ — — 43.38 Rio de J., p. to mil.. 14} 141 5.899 B. Aires, p. to peso 736} 136} ' 47.62 M. Video, p. to peso 740 739 7-8 51 Calcutta, p. to rup. 18 1-8 181-16 18 Shanghai, p, to dol. 17 3-16 17 —• H.-Kong, p. to dol. 211-8 21 —— Y’hama, p. to yen 13 5-32 13 5-32 24.582 Batavia, fl. to £ 7.205 7.205 12.107 tSellers. official. •Sellers. $Par, 8.23 31-32 since dollar devaluation on February 1. 1934.