EXCHANGE RATES.

Auckland Star, Volume LXV, Issue 238, 8 October 1934, Page 4

EXCHANGE RATES.

NEW ZEALAND CURRENCY BASIS,

EFFECTIVE TO-DAY

The Bank of New South Wales hat arranged to supply daily quotations of the basis upon which it is prepared tc do business in the purchase and sale ol the foreign exchanges shown below. The foreign currency is expressed ir terms of New Zealand funds, and twe rates are quoted generally, one for trans actions on a telegraphic basis, and tlx other for on demand for mail settlement These rates are subject to alteratior without notice. To-day's Rates. The abbreviations T.T. indicate "tele graphic transfer," and O.D. "on demand.' Buying. Selling. Fra 7i ce — Francs to £ I N.Z. . T.T. 00.-3 55.03 O.D. ti11.53 SS.OS Noumea — Francs to £1 X.Z. . T.T. 01.18 58.1S O.D. 01.08 55.23 Papeete—• Francs to £1 N.Z. . T.T. 01.18 58. IS O.D. 01.58 38.*J3 Belgium— Belgas to £1 N.Z. . T.T. 17.211 10.511 O.D. 17.311 10.5-0 Germany— Keiclimarks to £1 N.Z T.T. — 0.501 O.D. — 'J. 500 ItalyLire to £1 N.Z. .. T.T. — -15 10 O.D. — 45.123 Switzerland—• Francs to £1 N.Z. . T.T. 1 L'.L'OS 11.SOS O.D. 12.313 11.878 Holland— Florins to £1 N.Z. . T.T. 5.032 5 08" O.D. 5.052 5.080 Java — .Florins to £1 N.Z. . T.T. 5.880 5.001 O.D. 5.'J30 D! 005 Japan— N.Z. pence to 1 yen T.T. — 17 "3-3' O.D. — JL Sliangliai— N.Z. pence to 1 dollar T.T. 21 22 5-10 ~ O.D. 20 7-8 22V India and Ceylon— N.Z. pence to 1 rupee T.T. 22 0-32 22 5-S „ , O.I). 22 5-32 22 0-10 Hongkong— N.Z. prnce to 1 dollar •• T.T. 23 13-10 21 7-8 O.D. 23 11-10 21 13-lt Singapore— N.Z. pence to 1 dollar T.T. 34 13-32 35 3-8 O.D. 31 0-32 35 5-10 FOREIGN QUOTATIONS. (British Official Wireless.) (Received 1 p.m.) ItUGBY,- October 0. F'orelpn exchanges on London to-dav, com pared with rates previously Quoted Oct. 0. Oct. 5. Par Montreal, tlol. . -I.SI 4S] 4 New York. dol. 4.02] 4.023 Pans, franc .. 71 5-;j'» 7li""i l-u "1 Brussels, bolga 20.05 "0 00 " leneva, franc . 11.00 14 0') ->5 >>0 Amsterdam, fl. 7"il 7 21'' v«'7iV Milan, lire .... 57 3-10 57 1-10 02 40 Berlin, r.in. ... 12.10.'. Ji'l7 Stockholm, kr. 10 30j 10' JO J 18 15' Copenhagen, kr. 22.40 22.'40 is'l.7 Oslo, kr. jn.OOJ 10.00} JsVi! Vienna, sell. .. 2M 2"i 7 » vt »S : Prague kr. .. H7J25 m'.S-lO lij-^V-,' Ilelsingfors, mk. 220.50 2"G 50 l-'O "1 Madrid, pes. .. 35 1:: 10 35 13 10 "5->-> Lisbon, cscu. . 110.125 110.125 lit)'"" Athens, dr. ... 012 512t 375 Bucharest, lei . 400 490 813 0 Rio, mil 4.25 4 °5t -,Y)d B. Ayres, dol. . 30.50 30 50| 17 0->, M'video, dol. . 30.70 30.751 51d" Bombay, rupee. IS MG is 1-10 is<l Shanghai, taels 17.50 17.50 » Hongkong, dol. 10.375 10.375 » Yokohama, yen 14 332 14 3-32 'M 58 Batavia, fl. ... — 710 " 7° in Belgrade, illn. . — 214 276.31 All quotations are for cable transfers •Determined ou the price of silver. fSellers. LOCAL DOLLAR QUOTES. Current dollar exchanges, as quoted b the New Zealand banks are as under compared with previous quotations: — U.S. DOLLARS TO £1. Sept. 17. Sept. 25. Oct. 2. Oct. 8. Buying .. 5.11 500 500 50" Selling . . 4.01 4.80 4.8G 4.82 CANADIAN DOLLARS TO £1. „ , Sept. 17. Sept. 25. Oct. 2. Oct. 8. Buying . . 4.00 4.03 4.04 400 Selling . . 4.7G 4.73 4.74 4.70 CUSTOMS EXCHANGE RATES. Rates of exchange ruling at tin announced dates of departure of tin vessels named are shown in the followin, table. They are subject to confirmatioi by the Customs Department when tin exact time of departure is learned 01 arrival of the vessels in New Zealand finally declared rates being marked*: — Canadian Leader, Canada, dollars .. 4.SS, Armadale. America, dollars 4.001 Sydney Marti, Japan, yen 14j Golden Bear, America, dollars .... 4.05 Brisbane Maru, Japaa, yen 14 l-l( £1 (NEW ZEALAND) IS WORTH: „ , , £ s. d In lokoliama (13.47 yen) 1 7 1 In Sydney 1 0 ( In New York (3.00 dollars) ... 0 10 I In Montreal (3.80 dollars) 0 15 1( In London 0 10 ( In Berlin (0.72 marks) 0 0 ( In Paris (50.52 francs) 0 0 ' In Brussels (16.81 belga) 0 0 1 KAURI GUM. MARKET RATHER DULL. A WAITING POLICY. There is very little change to report in the market, except that 83, nuts arid chalk, which had been maintaining recon; values owing to a fairly steady demand, have now developed a slightly easing tendency. White gums are unchanged, with practically nothing doing in the highest grades. It should be. noted that for live months in succession the supplies arrivir.a in the city have been less than the exports" resulting 111 the total stocks held being exceptionally low, and some grades have run right out. During August, the latest period for which the returns are obtainabcl, only 193 tons arrived from the fields, against 349 tons shipped overseas. Traders are adopting a "wait-and-see" attitude in regard to chips, until they can see the effect of the Government policy recently announced. The fixing of a buying price for chips at £18 per ton for 30 per cent clean, with a reduction of 5/ per ton for each point under 80, and an iddition of 4/(5 for each point over che basis, seems likely to encourage diggers to clean their gum as well as possible, and ilso to attract to the fields a fair proportion of the diggers who left when "rices tell to an unreniunerative level. These latter will get the full benefit of the new price, as it is payable only on gum ivon since October 1. The policy of confining the Government activities to chijis seems more promising than the former aperations in the higher qualities, wnich were abandoned after a series of unprofitable dealings. It seems also a reasonable ;xpectation on the part of the Unemploynent Board that the fixing of a price for ihips will have a stabilising effect on the .vhole market, as these usually form a standard on which are built up the various irics for other grades of the superior juaiitics. HEMP AND TOW. A total of 1159 bales of hemp was iraded for export at New Zealand ports luring September, an increase of 53 bale? in the gradings in August, and a decrease if r>7o bales, compared with September, L 933. Tow gradings for September were 354 bales, compared with 21 bales in August md 171 bales in September; 1933,