THE MONEY MARKET

Manawatu Standard, Volume LVII, Issue 212, 7 August 1937, Page 14

THE MONEY MARKET

BANK OF ENGLAND RETURN. LONDON, Aug. 5. The following is tho Bank of England return :

cent. The Bank of England discount rate remains unchanged at 2 per cent. . FOREIGN EXCHANGES. POSITION OF STERLING. LONDON, Aug. 5. The following moan closing rates on foreign exchanges were current to-day compared with par:

ON NEW ZEALAND CURRENCY BASIS. The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchango yesterday:— , New Zealand. Buying. Selling, on '

ISSUE DEPARTMENT. Notes in circulation 503,900.000 Other Government securities .. 185,800,000 Notes in banking department 22,500,000 Other securities 3,200,000 Silver coin Nil BANKING DEPARTMENT. 3,600.000 Public deposits 9,800,000 Bankers’ deposits 95,500,000 Discounts and advances 6.400,000 Government securities 1,102,000 Note and coin 23,600,000 Other accounts 37,300,000 Other securities 2,020,000 Ratio of reserve to liabilities, 16.61 per

* Aug.5. Par. New York, dol. to £ ... 4.98g 4.866 Montreal, dol. to £ ... ... 4.981-16 4.866 Paris, francs to £ ... .. 132 53-64 124.21 Brussels, hoi. to £ .. ... 29.581 48.611 Geneva, francs to £ .. ... 21.685 25.225 Amsterdam, florins to £ 9.031 12.107 Berlin, marks to £ .. ... 12.37J 24.43 Stockholm, knr. to £ ... 19.395 18.159 Copenhagen, knr. to £ .. 22.40 18.159 Oslo, knr. to £ ... 19.90 18.159 Vienna, schgs. to £ ... 26.50 34.585 Prague, knr. to £ Hel’fors, marks to £ ... 142.875 134.25 ... 226.125 193.23 Madrid, pes. to £ .. ... —' 25.225 Lisbon, esc. to £ ... 110 3-16 100 Milan, lire to £ ... 94.625 92 Athens, drac. to £ ... *547* 375 Bucharest, lei to £ .. ... *670 813.60 Belgrade, din. to £ .. ... 216 276.31 Rio de J., IJ- t° mil. ... +41 4.899 B. Aires, p. to peso .. 47.62 M. Video, p. to peso .. +391 £1 Calcutta, p. to rup. .. ... 184 18 Shanghai, p. to dol. ... 14.25 — Hong-Kong, p. to dol. ... 14 29-32 — Yokohama, p. to yen .. 13 31-32 24.582 Batavia, florins to £ •Unofficial. ... 9.005 +0flicial. 12.107

London — £N.A. to . T.T. 124 124/10/0 O.D. 123/10 f0 124/8/9 Australia— £A to£N.Z. 100 T.T. — — O.D. lOl 100/10/0 Fiji— ±)F to £N.Z. 100 T.T. — — O.D. 90/7/0 89 New York — Dollars to £ N.Z T.T. 4.0298 3.9928 O.D. 4.0398 3.9968 Montreal — Dollars to £ N.Z T.T. 4.0287 3.9939 O.D. 4.0412 3.9979 France— Francs to £ N.Z T.T — 105.90 O.D. - 105.94 Hong-Kong— . N./i. ponce to 1 dollar .. T.T. 18 21-64 18 49-64 O.D. 1819-64 18 49-64 Japan— N.Z. ponce to yen ... T.T. — 17 31-64 O.D. - 17 31-64 Shanghai— N.Z. pence to dollar ... T.T. 1715-32 17 29-32 O.D. 17 7-16 17 29-32 T.T. represents telegraphic transfers. O.D. represents on demand transactions. The above rates are subject to alteration without notice. The Associated Banks (other than the Bank of New South Wales), quoted the following dollar rates yesterday on a New Zealand currency basis, They are subieet to alteration without notice. U.S.A, Canadian Dol. (Per Dol. (Per Selling— £1 N.Z.) £ N.Z.) T.T 3.991 3.991 O.D 3.993 3.99 13-16 Buyine-r-O.D 4.0315-16 4.04|