FOREIGN EXCHANGE

Dominion, Volume 28, Issue 120, 14 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. Q.D. lepresents on demand transactions. The above rates are subject to alteration without notice. The Associated Banks (other than the Bank of New South Wales) quoted the following dollar-sterling rates yesterday. They are subject to alteration without

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. 16/0$ in U.S.A. 16/1$ in Canada. 9/6 in France. 9/10$ in Italy. 9/4$ m Germany. 9/4$ in Java. £l/7/11 in Japan. Position of Sterling By Telegraph.—Press Assn.—Copyright. London, February 12. The following rates on foreign exchanges were current to-day, compared with those ruling on February 11: —

tSellers. official ’Sellers. {Par, 8.23 31-32 since dollar devaluation on February 1, 1934. Gold and Silver. London. February 12. Gold.—£7/2/2* per line ounce. Silver.—Cash, 24 7-l Gd. per oz.; forward, 24 9-Wd. . SYDNEY WOOL SALES Values Rule Firm (Received February l‘>, 10 p.m.) Sydney, February 13. At tell wool sales to-day 11,494 bales were offered, of which 10.390 bales were sold at auction and 015 disposed of privately. Valuer were firm at (he bext point of the previous day’s sale«. with Yorkshire and the t/mtinent competing freely for best woolr? and Japans for topmaking sorts. • Full clearances were effected. Greasy merino made 21(1. The new Tasmanian steamer Taroona, which left Greenock on January 25 en route to Australia, is due at Melbourne on February 25. The Taroona was built by Alexander Stephens and Sons, of Glasgow, for Tasmanian Steamers Pty., Ltd., and is a twin-screw’, oil-burning vessel of about 4000 tons gross. She is fitted with refrigerated chambers and has accommodation for 450 passengers. She was launched on November 24 and will take up the Launceston run from the end of February, when the Nairana will be transferred to the Burnie-Dcvonport service.

AUCTION DIARY

I — TO-DAY. Mangaweka Ewe Fair. Upper llutt Sheep Fair, 1 p.m. (Dalgety). 57a Victoria St., 10.30 a.m.—Warehouse fittings (Johnston). Raetihi Ewe Fair. 14 Roy St., Newtown, 1.30 p.m.—Furnishings (Silverstone). TO-MORROW. Feildiug Ewe Fair.

New Zealand on Buying. Selling. London — £N.Z. to 124/10/124/7/6 £stg.lOO T.T. O.D 72-1 123/10/Australia— £A. to £N.Z. 100/10/700 .... T.T. 101 O.D 101 190/10/Fiji—; , £F. to £N.Z. 89 700 .... T.T 90/7/6 O.D 90/7/6 89 New York— dollars to 3.94 J 3.90J £N.Z.l .. T.T. O.D. 3.96J 3.91 ii Montreal — dollars to 3.951 3.91 J IN.Z.l .. T.T. O.D. 3.96J 3.92 France — Francs to £1 58.93 N.Z T.T. 60.23 O.D. 60.53 58.98 Noumea — Francs to £1 58.18 N.Z T.T. 61. IS O.D. 61.58 58.23 Papeete— Francs to £7 58.18 N.Z T.T. 61.IS O.D. 61.58 58.23 Belgium— Belgas to £1 16.531 N.Z. .... T.T. 17.231 OD. 17.331 16.546 Germany— Reichmarks to £1 N.Z T.T. — 9.590 O.D. — 9.595 Italy— Lire to £1 N.Z T.T. — 45.60 OD. — 45.64 Switzerland — Francs to £1 11.973 N.Z T.T. 12.373 O.D. 12.448 11.983 Holland— Florins to £1 5.707 N.Z T.T. 5.957 O.D. 6.007 5.711 JavaFlorins to £ 5.690 N.Z T.T. 5.915 O.D. 5.965 5.694 Japan— N.Z. pence 17 21-32. to 1 yen T.T. — Shanghai— N.Z. pence t( 22 15-16 1 dollar T.T. 21 § O.D 214 22J India and Ceylon— N.Z. pence to 1 rupee T.T. 22 13-32 221 O.D. 22 9-32 22 11-16 Hong-Kong— N.Z. pence 26 5-16 to 1 dollar T.T 27 g O.D. 20 3-16 27 5-16 Singapore— N.Z. pence 355 to 1 dol. T.T. 34 7-16 O.D. 34 5-16 35 5-16

notice: — U.S.A. Canada Conversion of dollar bills received for collection and sale of dollar drafts and telegraphic transfers 4.86 4.S7 Purchase of dollar bills .. 4.90 4.91 On a New Zealand currency basis these rates are equivalent to : — Sellin? — U.S.A. Canada T.T 3.90} 3.91} On demand 3.90} 3.91} Buying— , On demand 3.97 3.91}

Feb. 12. Feb. 11. Par. N, York, (lol. to £ 4.88 1-8 4.88 3-16 ±4.866 Montreal, (lol. to £ 4.88 7-8 4.885 4.866 Paris, fr. to £ 74 u-33 74 7-16 124.21 Brussels, bel. to £ 20.07 20.99 35.00 Geneva fr. to £3 15.115 15.13 25.225 Ainst’dam, fl. to £ 7.245 7.24 12.107 Milan, lire to £ 57 9-32 57.625 02.46 Berlin, mks. to £ 12.195 12.20 20.43 St’liolm, knr. to £ 19.40 19.40 18.159 C’hagen, knr. to £ 22.395 22.395 18.159 Oslo, knr. to ' £ 19.905 19.905 18.159 Vienna, seligs. to £ 26.25 34.oSo Prague, knr. to £ 117 3-16 117.125 164.25 Hel’fors, inks, to £ 226.50 226.50 193.23 Madrid, pes. to £ 35 25-32 35 13-16 25.225 Lisbon, esc. to £ 110.125 110.125 110 Athens, draeh. to £ •515 •515 375 Belgrade, din. to £ 216 216 216.31 Bucharest, lei to £ 487.50 490 813.(10 Warsaw, zloty to £ — 43.38 Rio de J;, p. to mil. 7 47 74 > 5.899 B. Aires, p. to peso 7364 736} 47.62 SI. Video, p. to peso 736} 736} 51 Calcutta, p. to rnp. IS 5-32 IS 5-32 18 Shanghai, p. to (lol. 17 7-8 1713-16 — II.-Kong, p. to dol. 21 11-1 21} — Y'hama. p. to yen 14 14 24.582 Batavia. 11. to £ 7.225 I .-'-(J 12.107