EXCHANGE RATES.

Auckland Star, Volume LXVI, Issue 49, 27 February 1935, Page 4

EXCHANGE RATES.

NEW ZEALAND QUOTATIONS. Following are the latest rates for purchases and sales of foreign exchange quoted by the Bank of New South Wales. Auckland. They are subject to alteration without notice :—

DOLLAR RATES. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar-sterling rates February 27, 1935, which are subject to alteration without notice: — U.S.A. Canada. Conversion of dollar bills received for collection and sale of dollar drafts * and telegraphic transfers 4.84 4.51 Purchase of dollar bills . . 4.8S 4.88 On a New Zealand currency basis these rates are equivalent to: — Selling— U.S.A. Canada. Telegraphic transfer . . 3.SSJ 3.SBJ On demand 3.89J 3.89£ Buying— On demand 3.953 3.950 CUSTOMS ASSESSMENTS. Rates of exchange ruling at the [ announced dates of departure of the vessels named are shown in the following table. They are subject to confirmation by the Customs Department when the exact time of departure is learned on arrival of the vessels in New Zealand, finally declared rates being marked*:— Port Auckland. America, dollars .. . 4.87S Canadian Challenger, Canada, dols. 4.87$ Golden Bear. America, dollars .... 4.871 .Melbourne Maru. Japan, yen .... 14d Wairuna, America, dollars 4.87 1-16 Fiseus. Canada, dollars 4.87| Canadian Victor, Canada, dollars.. 4.88 i £1 IS WORTH. Based on the rates quoted to-day by the Bank of New South Wales, £1 New Zealand is worth approximately:—

STERLING EXCHANGE.

DOLLAR AND FRANC. LONDON, February 26. The American dollar is quoted at I 4 SU 13-16 to the pound sterling, and the franc at 73^.

LONDON, February 26. The city editor of the "Daily Mail," commenting on the sterling exchange, points out that there is no need for uneasiness. On the contrary, a justifiable setback to currency is helpful to industries in these times of quotas and restrictions, and should stimulate the export trade and relieve unemployment.

Currency. T.T. On Demand. To £1 N.Z. Selling. Buying, Celling. London, £100 stg. 121 10/ 123 10/ 124 7/6 Alls., £ to £100 iIJO 10/ lOl 100 10/ Fiji, £ to £100 St) 00 7/0 80 U.S. A 3.892, 3.95 i 3.89§ Canada 3.891 3.042 3.00 France, fr 58.26 50.80 58.31 Noumea, fr 57.51 00.01 57.50 Papeete, fr 57.51 00.01 57.50 Belgium, belga . 16.302 17.102 10.317 Germany, r.in. .. 9.473 — 0.47S Italy, lire 45.17 — 45.21 Switzerland, fr. 11.820 12.205 11.830 Holland, fl 5.635 5.035 5.630 Java, fl 5.025 5.000 5.620 N.Z. d. to Jap. yen 17 11-16 — — Shanghai, dol. . 24 11-32 22.875 24 0-32 India, rupee ... 22.75 22 0-32 22 11-16 Ceylon, rupee .. 22.75 22 0-32 22 11-10 Hongkong, dol. . 29 1-32 27 27-32 28 31-32 Singapore, dol. . 35.375 34 9-32 35 5-16

£ s. d. In London u 1(> 1 In Australia 1 0 1 In U.S.A 0 10 0 In Canada 0 10 OJ In Prance 0 9 0 . In Italy 0 9 9J In Germany 0 0 4} In .lava 0 9 4jJ In Japan 1 7 9