FINANCIAL NEWS

Taranaki Central Press, Volume IV, Issue 395, 31 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 sociation, compare with those previously cabled as follows:

FOREIGN EXCHANGES

On New. Zealand Currency Basis. The Bank of New South Wales, Wellington, quoted the following rates tor their purchases and sales of foreign exchanges: New Zealand Buying. Selling, on London ... T.T. 124 j 124/10/£N.Z. to £ Btg. 100 . O.D. 123/10/-124/8/9 Australia .. T.T. £A to £lOO O.D. 101 100/10/Fiji T.T. £F to £lOO O.D. 90/7/6 89

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. U.S.A. Doi. Canadian Doi. Selling (Per £1 N.Z.) (Per £1 N.Z.) T.T. 3.915-8 3.911-8 O.D. 3.92 1-8 3.92 5-8 Buying O.D. 3.96 3-8 3.953

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. 16/1 in Canada. 13/8? in France. 16/1} in Italy. 9/5J in Germany. 11/8} In Java. £l/8/1J in Japan.

Mar. 24. Per ton. Mar. 25. Per ton. Copper— Standard, spot 72 6 3 73 8 9 Ditto, forward 71 14 4J 72 14 4J Electrolytic . 78 0 0 79 0 0 to 78 0 0 79 0 0 Wire t >rs . ,. 79 0 0 79 0 9 Lead — Spot 31 17 6 31 15 0 Forward .... 31 15 0 31 11 3 Spelter— i 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-ltid. Fine .. 22 3-16d. 22 3-16

New. York .. T.T. 3.95 22 3.9160 Doi. to £. O.D. 3.96 47 3.92 10 Montreal ... T.T. 3.94 66 3.91 17 Dol to £ . . O.D. 3.95 91 3.91 67 Austria T.T. — 20.53 Schgs, to £ O.D. — 20.55 Belgium .... T.T. — 23.172 Bel. to £ .. O.D. — 23.183 Czechoslovak. 'i’.T. — 111.65 Crs. to £.. O.D. — 111.70 Denmark ... T.T. 18.203 17,893 Kr. to £.. 0.1). 18.263 17.903 France T.T. — 85.21 Frs. to £ .. O.D. — 85.25 Germany T.T. — 9.689 R.M. to £. O.D. — 9.694 Holland T.T. 7.274 7.124 FIs. to £ .. O.D. 7.334 7.128 Italy .. . T.T. — 74.40 Lr eto £ .. O.D. — 74.45 Java T.T. 7.249 7.089 FIs. to £ .. O.D. 7.309 7.093 Switzerland. T.T. 17.411 17.141 Frs. to £ . O.D. 17.506 17.145 Norway .... T.T. 16.f81 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 25-64 Hong Kong . T.T. 18 19-64 18 51-64 d. to 1 dol. O.D. 18 17-64 18 25-32 India and Ceylon .... T.T. 22 3-8 22 21-32 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