"OUTSIDE" EXCHANGE.
Exchange Sydney on London is quoted by the banks as follows:—On the basis of £100 London: Telegraphic transfers, buying £130 Australia; selling, £130 10/ Australia. Quietness was noticeable in the outside exchange market when the Sydney mail left for New Zealand. So far as could be gleaned by the "Sydney Morning Herald," in a number of sources where activity had prevailed up to last week, what business was passing was negligible in extent. ..It was fully evident that with a lessened demand for remittances to London for non-commercial purposes, ithat sellers of funds had perforce to .-modify their ideas. Their increased willingness to attempt to find a basis for dealing indicated a drift in the outside market levels towards the banks' carded !" at es, r .„■Private cable advice showed that m London on February 4 the quotation was £131 to £132, with little business materialising^..'
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Bibliographic details
Auckland Star, Volume LXII, Issue 39, 16 February 1931, Page 4
Word Count
147"OUTSIDE" EXCHANGE. Auckland Star, Volume LXII, Issue 39, 16 February 1931, Page 4
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