EXCHANGE RATES
A REVISION ANNOUNCED (United Press Association—By Electrio Telegraph—Copyright) (Received 2th January. 1.5 p.m.) V MELBOURNE. This Day. The Associated Banks of Victoria announce a revision in the rates of exchange between Australia and New Zealand. The buying rate is £lO9 10s for £IOO, and the selling rate £llO for £IOO. Tho previous rate was, buying ss. per cent, discount and selling 87s 6d premium for £IOO The amendment of rates fellows on the increase in rates between Australia and London, and will check the flow of funds abroad through New Zealand. The National Bank of Australasia in a monthly summary criticises the action of the Bank of New South Wales in increasing exchange rates independently of other banks.
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Bibliographic details
Nelson Evening Mail, Volume LXIV, 12 January 1931, Page 5
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120EXCHANGE RATES Nelson Evening Mail, Volume LXIV, 12 January 1931, Page 5
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