FOREIGN EXCHANGES.

Manawatu Standard, Volume LVIII, Issue 53, 31 January 1938, Page 5

FOREIGN EXCHANGES.

ON NEIF 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

The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates .on Saturday on a New Zealand currency basis. They are subject to alteration without notice : U.S.A, Canadian Dot (For Dol. (Per Selling- JBIN.Z.) £1 N.Z.) T.T 4.011 4.013-16 O.D. 4.0111-16 4.01| Buying— O.D 4.0511-16 4.051 An area of 18,000 acres of undeveloped land between Ngataki and Te Kao, North Auckland, has been brought under the Maori land settlement scheme for improvement purposes, with a view ; to bringing it into' production. Of this area about 6000 acres of consolidated sa.nd country and swamps are capable of comparatively easy development, but the balance is largely sand-dune country fronting the Ninety Mile Beach, and until-reclama-tion work for the fixing of the sand has been carried out little can be done to this large area.

London — £N.Z. to ■ stg.100 T.T. 124 124/10/0 Australia— £A to £N.Z. O.D. 123/10/0 124/8/9 100 T.T. 101 100/10/0 Fiji— £F to £N.Z. O.D. 101 100/10/0 100 T.T. 90/7/6 89 New York — Dollars lo £ O.D 90/7/6 89 N.Z T.T. 4.0459 4.0113 . Montreal — Dollars to £ O.D. 4.0559 4.0153 N.Z T.T. 4.0446 4.0121 France— Francs to £ O.D. 4.0566 4.0161 N.Z T.T. — 122.09 Hong Kong— N.Z. pence O.D. 122.13 to 1 dollar T.T. 18 29-64 18 53-64 O.D. 18 27-64 18 53-64 Japan-— N.Z. pence T.T. to yen — Shanghai— N.Z. ponce O.D. 1 17 1 to dollar ... T.T. — 18 9-64 O.D. 16 9-64