FOREIGN EXCHANGES.

Manawatu Standard, Volume LVIII, Issue 41, 17 January 1938, Page 5

FOREIGN EXCHANGES.

POSITION OF STERLING. LONDON, Jan. 15. Tlie following mean closing rates on foreign exchanges wore current to-day compnrod with par:

ON NEW ZEALAND CURRENCY BASIS. The Bank of New South Wales, Wellington, quoted the following rales for their purchases and sales of foreign exchange on Saturday: New Zealand. Buying. Selling, on London--£N.Z. to

PRICES OF OTHER METALS. To-day’s quotations for other metals, with those of January 7 in parentheses, are as follow : Pig-iron. —Home trade, 109 s a ton (same); export, not quoted. Antimony.—British, £Bl 10s a ton (same); foreign, £6l a ton (£6l). Molybdenite—4ss 6d a ton (same). Wolfram— Bos a unit (same). Osin iridium. —£15 to £l7 nn ounce (same). METALS EXCHANGE ACTIVE. LONDON, Jan. 15. The metals exchange passed one of itsmost active weeks for some months. The United States domestic price for copper was raised three times in a single day, resulting in a burst of speculative buying, tint the demand has fallen off at the higher price. Russia and Japan have been buyers of metals, Russia, it is reported, as agent for China. Rubber is firmer hut, like metals, closed at under its best, rales.

New York, dol. to £ ... Jan. 15. 4.99 11-16 Par. 4.866 Montreal, dol. to £ 4.99? 4.866 Paris, francs to£ Brussels, bel. to £ 149,1 124.21 29,545 48.611 Genova, francs to £ 21.62| 25.225 Amsterdam, florins to £ 8.971 12.107 Berlin ,marks to £ 12.41 23.43 Stockholm, knr. to £... 19.40 18.159 Copenhagen, knr. to £ . 22.40 18.159 Oslo, knr. to £ 19.90 18.159 Vienna, schge. to £ ... 26.50 34.585 Prague, knr. to £ 142.375 134.25 Ilel’fors, marks to £ ... 226.125 193.25 Madrid, pes. to £ _ 25.225 Lisbon, esc. to £ Milan, lire to £ 110 3-16 100 94.875 92 Athens, drac. to £ 547.50 375 Bucharest, lei to £ 677.50 813.60 Belgrade, din. to £ 216 276.31 Kio de J., p. to mil. ... — 4.866 B. Aires, p. to peso — 47.62 M. Video, p. to peso ... +24? 51 Calcutta, p. to nip. ... 18b 18 Shanghai, p. to dol. ... 14 3-16 18 Ilong Kong, p. to dol. . 15 — Yokohama, p. to yen ... Batavia, florins to’ £ ... 14 24.582 8.955 12.107 late.

stg.100 T.T. 124 124/10/0 O.D. 123/10/0 124/8/9 Australia-- £ A. to £N.Z. 100 T.T. 101 100/10/0 O.D. 101 100/10/0 Fiji— £F to £N.Z. 100 T.T 90/7/6 90/7/6 85 O.D. 89 New Vork— Dollars to £ N.Z T.T. 4.0366 4.0021 O.D. 4.0466 4.0061 Montreal— Dollars to £ N.Z T.T. 4.0365 4.0041 O.D. 4.0485 4.0081 France— 119.47 N.Z T.T. — O.D. — 119.51 Hour; Koilg— N.Z. pence > 18 53-64 to 1 dollar .. T.T . 18 29-64 O.D . 18 27-64 18 53 64 Japan— N.Z. pence 17A to yen T.T. -- O.D. — 174 Shanghai— N.Z. pence 18A to dollar ... T.T. — O.D. — 18a 1 Banks (otliei than the Bank of Now South W a Ic'd quoted the following dollar rales on Saturday on a New Zealand tu rrenc-i basis. 1 hey are subject to alteration without notice: — Selling— T.T U.S.A. Did (Per £1 N.Z.) Canadian Dol. (Per £1 N.Z.) ' 4.03 5-16 4.00 7-16 O.D 4.03 11-16 4.0013-16 Buying— O.D 4.043 4.04 13-16 BASE METALS MARKET. FURTHER FALL IN PRICES. LONDON, Jan. 14. The official London (middle) quotations, as reported by the Australian Mines and Metals Association, compare w ith those previously cable d, as follows Jan. 13. Jan. 14. Per ton. I'ei ton. Cornier £ * <1 « d Standard, spot, 43 9 4i 42 11 3 Ditto, forward 43 11 10A 42 15 74 Electrolytic 47 10 0 46 5 0 io 48 0 0 47 5 0 Wire bars .... 48 0 0 47 5 0 17- 8 14 17 1 3 17 11 104 17 5 0 Spot 15 11 3 15 10 0 15 15 74 ■ 15 13 14 1 - 187 8 9 185 5 0 Forward 187 15 0 187 5 0 • • oz . . 19Id 19 13-16d Fine . 217-16d 21id