FOREIGN EXCHANGE

Dominion, Volume 28, Issue 101, 23 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 on Monday:— • 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 on Monday by the Bank of New South Wales, £1 New Zealand was worth approximately: 16/1 in London. £l/0/1 in Australia. 15/11J in U.S.A. 15/10J in Canada. 9/6 in France. 9/91 in Italy. 9/4J in Germany. 9/4J in Java. £l/7/11 in Japan. Position of Sterling By Telegraph.—Press Ason. —Copyright. London, January 21. The following rates on foreign exchanges were current to-day. compared with those ruling on January 19:-

fSelle’rs, official. ’Sellers. JPar, 8.23 31-32 since dollar devaluation on February 1, 1934. Gold and Silver. London, January 21. Gold—£7/2/0} per fine ounce. Silver—Cash, 24 5-8(1. per ounce; forward, 24Jd. Dollar Conversion Rates The Associated Banks have agreed that the conversion rates front January 21 will be;— U.S.A. Canada Conversion of dollar bills received for collection and sale of dollar drafts .. 4.83 4.82 Purchase of dollar bills .. 4.93 4.92 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 the case may require. 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 Hie Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked* : — Canadian Britisher. Canada, dollars LSI'S Benholm, America, dollars 4.U4 i-tb Aorangl. U.S.A., dollars .j'.u! Aorangi, Canada, dollars L.w Aorangl. Honolulu, dollars • ■ «••»- Waikawa. America, dollars 4.93 . -1 > Golden Cloud, America, dollars .. 4.J3 3-lu Brisbane Mani. Japan, yen - Monterev. U.S.A., dollars 4.91 3-lfi r ;Sn r ScVttish: Canada,'dollar's Lto’j-S RUSSIAN TRADE Orders to Great Britain 'rhe .Moscow Narodny Batik Review reports that the orders placed in Great Britain during October amounted to £574.466. compared witli £.,06.20- m October, 1933, an increase of 13.5 per cent. , . Orders placed and the purchases made in October of 1934 were Machinery and coiiipinent. £58.552: ferrous alloys and steel, £0100; non-ferrous metals. £l6l 422; rubber. £102.055; textiles (raw materials), £64.970 ; tea. £7.1.291 : herrings. £42,242; various, £62.834; total. £574.466. In the first 10 months of 1934 the Anglo-Soviet Shipping Company, Ltd., chartered on the London market alone a total of 391 vessels, of 2,442,484. tons, and an estimated freight amounting to £1.163.347. Of these. 282 vessels, of 1,774,715 tons, and of an estimated freight amounting to £51.163.239, were British. The share of the British tonnage wits thus 72.7 per cent., and that of the freight due to British shipowners was 73.1 per cent, of the total. The above figures do not include the charte:iii l ’ by the company of vessels outside tin 1 London market, nor do they include time charters.

France: — Francs to £1 58.93 N.Z T.T. 60.23 O.D. 60.53 5S.9S Noumea — Francs to £1 5S.1S N.Z T.T. 01.18 O.D. 61.5S 58.23 Papeete— Francs to £1 5S.18 N.Z T.T. (it J 8 O.D. 61.5S 5S.23 Belgium— Belgas to £1 16.503 .... T.T. 17.203 ob. 17.303 16.518 Germany— Reichmnrks 9J586 9591 to £1 N.Z. T.T. —— O.D. — Italy— Lire to £1 45.29 N.Z T.T. — O.D. —- 4u.33 Switzerland — Francs to £1 11.957 N.Z T.T. 12.357 O.D. 12.-132 11.907 Holland — Florins to £1 N.Z T.T. 5.950 5.700 O.D. 6.000 5.704 Java — Florins to £1 5.682 N.Z T.T. 5.907 O.D. 5.957 5.686 Japan— N.Z. pence T.T. ITS to 1 yen — Shanghai— N.Z. pence to 20 11-16 90 1 dollar T.T. O.D. 20 9-16 21 15-16 India and Ceylon— N.Z. pence 22 11-32 22 11-16 to 1 rupee T.T. O.D. 22 7-32 22j Hong-Kong— N.Z. pence to 1 dollar T.T. 161 27 3-16 O.D. 26 27$ Singapore— N.Z. pence 34 7-16 to 1 dol. T.T. 35 J O.D. 34 5-16 35 5-16

Jan. 21, Jan. 19. Par. N. York, dol. to £ 4.875 4.88 1-8 J4.860 Montreal, dol. to £ 4.87J 4.875 4.888 Paris, fr. to £ 74 5-32 74 u-3- 124,21 Brussels, bel. to £ 20.96 20.94 <*5.00 Geneva, fr. to £ 15.12 lo.lOo r?™ Amst’dam, fl. to £ 7.245 (.24 3 r4?* Milan, ' lire to £ 57 9-32 5(.2,> 92.40 Berlin, inks, to £ I’---® 1--J8 Tjiro St’holm., knr. to £ 19.30u 1.1.3.M C’hagen knr. to £ 22.305 22.39.1 IS.luO Oslo* knr. to £ 19-00 19-90 ’8-«» Vienna, schgs. to £ 26.02a 20.625 34 .aSo Prague, knr. to £ 117 117 164.'-a Hel’fors, mks. to £ 226.50 220-50 193.23 Mauri Cl, peb. TO 2* uJ AO iu ov u- 17 Lisbon, esc. to £ 110.1_o 110.1-u 110 Athens, drach. to £ *514 *514 37,» Belgrade, din. to £ 216 -16 -79-31 Bucharest, lei to £ 487.50 487.o0 813.60 Warsaw, zloty to £ — •— I 3 -;*® Rio de J., p. to mil. 74} 74} a.899 B. Aires, p. to peso 7364 f36J 4i,6M. Video, p. ta peso 739 7-8 j39 <-8 01 Calcutta, p. to rup. 18 1-8 18 1-8 18 Shanghai, p. to dol. 177 171-8 H.-Kong, p. to dol. 213-8 217 — Y’hama, p. to yen 14 14 Batavia, fl. to £ 7.22u 7.215 1—107