FINANCIAL NEWS

Taranaki Central Press, Volume IV, Issue 393, 27 March 1937, Page 8

FINANCIAL NEWS

BASE METALS MARKET Sharp Decline in Prices. London, March 25. The official London (middle) quotations for Wednesday, as reported by the Australian Mines and Metals As aociation, compare with those previously cabled as.follows: Mar. 24. Mar. 25. Per ton. Per ton.

FOREIGN EXCHANGES On New Zealand Currency Basis. The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchanges: New Zealand Buying. Selling, on London ... T.T. 124 124/10/£N.Z. to £ z stg. 100 . O.D. 123/10/- 124/8/9 .. T.T. £A to £lOO O.D. 101 100/10/Flji T.T. £F to £lOO O.D. 90/7/6 89 New York . T-T. 3.94 15-16 3.91 S-8 Doi. to £. O.D. 3.96 3-16 3.91 7-8 Montreal .. T.T. 3.94 11-16 3.91 11-16 Doi. to £ . O.D. 3.96 15-16 3.91 11-16

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 subject to alteration without notice.

N.Z. Pound Abroad. Based on figures quoted *by the Bank of New South Wales, the New Zealand pound, compared with its original par value, is equivalent to approximately : 16/1 in London £l/0/1 in Australia. 16/1 in U.S.A. 16/0t in Canada. 13/8S in France. 16/1 in Italy. 9/5S in. Germany. 11/8i in Java. £l/8/1J in Japan.

Copper— Standard, spot 72 6 3 73 8 9 Ditto, forward 71 14 4i 72 14 4J Electrolytic . 78 0 0 79 0 0 to 78 0 0 79 0 0 Wire h >rs ... 79 0 0 79 0 0 Lead— Spot 31 17 6 31 15 o Forward. .... 31 15 0 31 11 3 Spelter— Spot 33 12 6 33 11 3 Forward .... 33 15 0 33 13 9 Tin— Spot 298 10 0 302 10 0 Silver — Standard,per oz. 20 9-16d. 20 9-16d. Fine 22 3-16d. 22 3-16

Austria T.T. — 20.48 Schgs. to £ O.D. — 20.50 Belgium .... T.T. — 23,162 Bel. to £ .. O.D. — 23.173 Czechoslovak. T.T. — 111.60 Crs. to £. O.D. —■ 111.65 Denmark ... T.T. 18 203 17,893 Kr. to £.. O.D. 18.263 17.903 France T.T. — 85.23 Frs. to £ .. O.D. — 85.27 Germany .... T.T. — 9.683 R.M. to £. O.D. — 9.688 Holland T.T. 7.274 7.124 FIs. to £.. O.D. 7.334 7:128 Italy T.T. — 74.33 Lire to £ .. O.D. — 74.38 Java T.T. 7.233 7.07(3 Fig to £.. O.D. 7.305 7.089 Switzerland. T.T- 17-411 17.141 Frs. to £. O.D. 17.516 17.146 Norway .... T.T. 16.181 15.891 Kr. to £.. O.D. 16.241 15,901 Sweden .... T.T. 15.785 15.490 Kr. to £.. O.D. 15.845 15.500 Shanghai .... T.T. 17 29-32 18 13-32 d. to 1 dol.. O.D. 17 7-8 18 24-64 Hong Kong . T.T. 1819-64 18.51-64 <1. to 1 dol. O.D. 18 17-64 18 25-32 India and Ceylon .. . T.T. 22 3-8 22 41-64 d. to rupee. O.D. 22 11-32 22 41-64 Japan T.T. — 17 31-64 d- to 1 yen O.D. — 17 15-32 Singapore .. T.T. 34 23-32 35 13-64 d. to 1 dol. O.D. 34 5-8 35.3-16

U.S.A. Doi. Canadian Doi. Selling (Per £1 N.Z.) (Per £1 N.Z.) T.T. 3.91 5-8 3.912 O.D. 3.92 1-8 3.92J Buying O.D. 3.96J 3.95 3-8