FOREIGN EXCHANGE

Dominion, Volume 28, Issue 108, 31 January 1935, Page 12

FOREIGN EXCHANGE

On New Zealand Currency Basis LATESI QUOTATIONS Tlie 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 nites quoted yesterday by the Bank of New South Wales, £1 New Zealand was worth approximately: 16/1 in London. £l/0/1 in Australia. 15/10} in U.S.A. 15/10} in Canada. 9/6 in Erance. 9/9} in Italy. 9/4} m Germany. 9/4} in Java. £l/7/11 in Japan. Position of Sterling By Telegraph.— Press Assn.—Copyright. London, January 29. The following rates on foreign exchanges were current to-day. compared with those ruling on January 28:—

Gold and Silver. London, January 20. Gold.—£7/1/8} per line ounce. Silver.—Cash, 24]d. per ounce; forward, 24 7-6 d. AUSTRALIAN LOAN Operations of “Stags” Bv Telegraph.—Press Assn. —CopyrightLondon, January 29. The Australian Press Association understands that the operations of stags were responsible for the underwriters being saddled with between 40 and 50 per cent, of the Common-wealth loan. Cash was offered freely enough when the lists opened on January IS, but stags exercised their option of withdrawal during the intervening period. Their operations were a constant source of embarrassment, though in this case Mr. Bruce might have been spared their attentions but for the setback received bv the London County Council £10.000,000 loan, the underwriters of which last week were left with -j-j per cent. GOLD MINING Okarito Report ] The Okarito Five Mile Beach Gold Dredging Co.. Ltd.. Dunedin, has ailvised the Stock Exchange Association of the following production for the three weeks front December 1 to December 22. ' 1934: —Total gold won. 93 ounces 6 dwts.; total time 365 hours; Ibt.’il non-working time. 67 hours; total | yardage treated. 25.450. an average of <0 | cubic yards per hour; average value of ground (on basis of gobi worth £4 per ounce). 3.5 pence per cubic yard. Glenroy Wash-up The secretary of Glenroy Gold Ltd. re- I ports that the wash-up for three weeks. | one of which was elevated Io changing the boxes, resulted In 2Soz. of gold being obtained. Transvaal Output The output of Hie Transvanl_ goldmines for November amounted Io 875.547 lino . ounces. This is a reduction ol l!).621oz. [ compared with the corresponding month ' of 1933, and is 67800 z. lower I Inin the I I October, 193-1. figure. The yield for the ' I lirst 11 months of 19:: 1 was 9.620.3560 z. ■ compared with 10,123,2J90z. in the. same I [ period, last year. I

France— 59.03 59.08 Francs to £1 NZ .... T.T. 60.33 ' O.D. 60.63 Noumea — Francs to £1 N.Z T.T. 61.28 jS.28 0.1). 61.68 58.33 Papeete— Francs to £1 N.Z .... T.T. 61.28 58 **8 O.D. 61.68 58313 Belgium— Belgas to £1 NZ T.T. 17.2.7.) 16.559 CD. 17.351) 16.574 German}’ — Reichmarks to £1 N.Z. T.T. — 9.602 O.D. — 9.607 Italy— Lire to £1 N.Z T.T. — 45.42 O.D. — 45.46 Switzerland — Francs to £1 NZ .... T.T. .12.389 11.989 OD. 12.464 11.999 Holland— Florins to £1 NZ T.T. 5.958 5.70S O.D. 6.008 5.712 Java— • Florins to £1 N.Z T.T. 5.923 5.698 O.D. 5.973 5.702 Japan— N.Z. pence to 1 yen T.T. — 179 Shanghai— N.Z. pence to 1 dollar T.T. 21R 22 15-16 O.D. 21| 22J India and Ceylon— N.Z. pence to 1 rupee T.T. 229 22 23-32 O.D. 221 22 21-32 Hong-Kong— N.Z. pence to 1 dollar T.T. 26 9-32 27 11-32 O.D. 26 5-32 27 9-32 Singapore— N.Z. pence to 1 dol. T.T. 34 7-16 359 O.D. 34 5-16 35 5-16

Jan. 29. Jan. 28. Par. N. York, dol to £ 4.87} 4.80} 74.800 Montreal, del- to £ 4.871 4.805 4.800 Paris, fr. to £ 749-32 74 21-32 124.21 Brussels, bel. to £ 21.02 21.105 35.00 Geneva, fr. to £ 15.145 15.215 25.225 Anist’dani, fl. to £ 7.24} 7.275 12.107 Milan, lire to £ 57.375 57 11-10 92.46 Berlin, inks, to £ 12.20 12.215 20.43 St’holm, knr. to £ 19.395 19.395 18.159 C’liagen, knr. to £ 22.395 22.39. < 13.159 Oslo, knr. to £ 19.905 19.905 IS.159 Vienna, seligs. to £ 20.50 20.50 34.585 Prajrue, knr. to £ 117.5(1 —■ 164.25 Hel’tors. mks. to £ 220.50 220.50 193.23 Madrid, pes. to £ "»>.S7b 30 1-10 25.225 Lisbon, esc, to £ 110.125 110.125 110 Athens, draeh, to £ *517 •517 375 Belgrade, din. to £ 217 217 276.31 Bucharest, lei to £ 490 490 813.60 Warsaw, zloty to £ — — 43.38 Bio de J„ p. to mH- 74} 74} 5.899 B. Aires, p. to peso 730} 7304 47.62 M. Video, p.to peso f30ir_ 739 5-8 51 Calcutta, p. to rup. 18 5-32 18 5-32 18 Shanghai, p. to dol. 17} 17} H.-Koog, p. to dol. 215-8 21 5-8 —— Y'hama. p. to yen 14 13(53-04 24.582 Batavia, fl. to £ 7.245 7.255 12.107 •{■Sellers, official. . *Sellers. tPar. 8.23 31-3: since dollar devaluation on February 1. 1934.