FOREIGN EXCHANGE

Dominion, Volume 28, Issue 112, 5 February 1935, Page 12

FOREIGN EXCHANGE

On New Zealand Currency Basis DIRECT DOLLAR RATES The Bank of New South Wales, Wellington. quoted the following rates for their purchases and sales of foreign exchange yesterday:—

T.T. represents telegraphic transfers. ' O.D. lepresenis on demand trausactloThe above rates are subject to alteration without notice. The following dollar sterling, rates were quoted yesterday by the National Bank of New Zealand. Ltd., subject to alteration without notice U.S.A. Canada Conversion pf dollar bills received for collection and sale of dollar drafts ■ .86 -j.bb Purchase of dollar bills •• 4.90 On a New Zealand currency basis these rates (both U.S.A, and Canada) are equivalent to the following. • Selling—T.T Oh demand o-d O-l Buying —On demand : ’- Jl

New Zealand Pound Abroad

Based on the rates quoted yesterday by the Bank of New South Wales, £1 New Zealand was worth approximately:

16/1 in London. £l/0/1 in Australia. 16/- in U.S.A. 16/OJ in Canada. 9/6 in France. 9/10} in Italy. 9/4$ in Germany. 9/4$ in Java. £l/7/11 in Japan.

Position of Sterling

By Telegraph.—Press Assn.-Copyright. London, February 2. The following rates on foreigu exchanges were current to-day, compared with those ruling on February 1;—

I Par. 8.23 31-32 since dollar devaluation <>n February 1 1934 Gold and Silver. ' London. February 2. Gold—£7/2/- per line ounce. Silver—Cash. 21 5-l Gd. per ounce; forward. 24 7-l Gd.

London Meat Market The Bank of Australasia has received the following cable dated February 1 from its London office:—New Zealand lambs: High prices have cheeked demand. but with supplies increasing .somewhat weaker values anticipated and this should stimulate trade. New Zealand mutton : Demand limited owing to high prices; trade slow; wethers at lower prices are being accepted. Ewes, prices unchanged New Zealand beef: Stocks on baud and forward shipments light ; market firm with upward tendency and expected to remain so until supplies increased. 1 ? Gold Mining Returns Tht Okarito Five Mile Beach Gold Dredging Company has advised the Stock Exchange Association that its wash-up totalled 490 z. 13dwt. for 126 hours. Bv 'Pelegrtipli— Pri-s Association Aucklaivl, February -1. The Mataki return for the week ending February 3 was 250 z. for 135 hours’ work.

New Zealand Buying. Selling. on London — £N.Z. to 124/10/£stg. 100 T.T. 124 O.D. 123/10/- ■ 124/7/6 Australia — £A. to £N.Z. 100/10/100 .... T.T. 101 O.D. 101 100/10/Fiji— £F. to £N.Z. 100 .... T.T 90/7/0 S9 0.1). 90/7/6 89 New York — dollars to IN.Z.l ..T.T. 3.94 J 389 3894 O.D 3.96J Montreal— dollars to 3901 £N.Z.l .. T-T. 3.94} O.D. 3.951 390} France — Francs to £1 59.08 N.Z T.T. 60.38 O I). 60.68 59.13 Noumea — Francs to £1 58.33 N.Z T.T. 61.33 O.D. 61.73 58.38 Papeete— Francs to £1 5S.33 N.Z T.T. 61.33 O.D. 61.73 58.38 Belgium— Belgas to £1 15.760 N.Z T.T. 16.460 O.D. 16.56$ 15.775 Germany— Reichmarks 9.602 t 0 £1 N.Z. T.T. —— O.D. — , 9.607 Italy— Lire to £•! N.Z T.T. •— 45.53 O.D. — 45.57 Switzerland — Francs to £1 11.991 N.Z T.T. 12.391 O.D. 12.466 12.001 Holland — Florins to £1 N.Z T.T. 5.956 5.706 O.D. 6.006 5.710 JavaFlorins to £1 5.690 N.Z T.T. 5.915' O.D. 5.965 5.694 Japan— N.Z. pence to 1 yen T.T. — 17 21-32 Shanghai— i N.Z. pence to 1 dollar T.T '. 21 O.D. 20« India and Ceylon— N.Z. pence to 1 rupee T.T. 22 13-32 22J O.D. 99 9-32 22 11-16 Hong-Kong— N.Z. pence . 25 31-32 27 1-32 to 1 dollar' T.T O.D 25 27-3! 2 26 31-32 Singapore— N.Z. pence 34 7-16 to 1 dol. T.T. 35’4 35 5-16 O.D. 34 5-16

Feb. 2. Feb. 1. Bar. 4 87 1-8 4.87 1-8 J4.8C6 Montreal, dol. to 4.87} 4.87-5-8 4.806 Paris, 1’r. to £ 74 8-32 74 7-32 124.21 Brussels, bel. to 21.015 20.08 35.00 Geneva, fr. to L. 15.145 15.13 25.225 Amst’dam, fl. to £ 7.24} 7.235 12.107 Milan, lire to 57.50 57 13-32 92.4(1 Berlin, inks, to 12 21 12.19 20.43 St’holm. knr. to £ 19.395 19.395 18.159 C’hagen, knr to £ 22.395 22.395. 18.159 Oslo, knr. to £ 19.905 19.905 18 1.>9 Vienna, schgs. to £ 26.25 26.50 34.u85 Prague, knr. to £ 117.125 117.125 164.25 Hel’fors. inks, to 226.50 226.50 : 93 23 Madrid, pes. to £ 35 27-32 35 13-16 25.225 Lisbon, esc. to £ 110.125 110.125 110 Athens, draeli. to £ ♦515 *515 37u Belgrade, din. to £ 216 21(1 276.31 Bucharest, lei to £ 187.51 187 5, -'3 (10 Warsaw, zloty to p _ - 43.38 Rio de J-. I>. to mi) 44} 4-1} 5.899 B Aires, p. to peso }36* 1361 17 62 M. Video, p. to peso 439 7-8 439? 51 Calcutta, p. to r.HP IS 5-32 IS 5-32 18 Shanghai, p. to <1 lol. 17 3-8 17 9-16 — H-Kong. p. to dol. 21-5-163.215-8 - V’hania. p to y en 14 14 21.582 Batavia, fl. to 7.225 7.225 12.107 tSpHers. ofTicin 1 •Selters