FOREIGN EXCHANGE

Dominion, Volume 28, Issue 255, 25 July 1935, Page 12

FOREIGN EXCHANGE

T.T. represents telegraphic transfers. O.D. represents 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 rates yesterday on a New Zealand currency basis They are subject to alteration without notice.

Position of Sterling By Telegraph.—Press Assn.—Copyright Bondon, July 23. The following mean closing rates on foreign exchanges were current to-day. compared with those ruling ou July 22:—

+ Par, 8.23 31-32 since dollar devaluation on Februarjr 1, 1934. Gold and Silver. London, July 23. Gold—.£7/0/5 per ounce, fine. Silver—Cash. 30 3-16 d. per ounce; forward, 30 5-l Gd.

Australian Wool Stocks

Stocks of wool iu the principal selling centres of the Commonwealth at June 30 last were 85,865 bales. The total is higher than was expected, but the large ; ness of the quantity is to a great extent due to dry conditions during June, causing many pastoralists to shear early. Receipts of wool during the later weeks of the month in Sydney were unusually heavy. It must also be remembered that the sales closed in Sydney on June 11. Of the 43.256 bales on hand in this centre. 36,374 bales -were unoffered. In normal pastoral circumstances much of that wool would have been received in the new season. The following figures show the quantities in store in the various States at June 30 of two years:—

The total in 1934 was influenced by the suspension of sales in June. At the close of June, 1933, only 42,232 balefl were in store, aud. if drought had not accelerated shearing, this year’s total would probably have been as small.

On New Zealand Currency Basis DIRECT DOLLAR RATES The Bank of New South Wales, Weilington quoted the following rates for their purchases and sales of foreign exchange yesterday:— New Zealand Buying. Selling. OU Ixtndon — £N.Z. to £stg.lOO T.T. 124 124/10/O.D. 123/10/124/8/9 Australia — £A to £N.Z. 1.00/10/wo .... T.T. 101 O.D. 101 100/10/ 1 £R to £N.Z. 100 .... T.'l. 90/7/0 89 O.D. 90/7/0 89 New York— Dollars to £1 N.Z. . .. . T.T. 4.01 S 3.97s O.D. 4.02 J tloritreal Dollars to £1 3.981 . T.T. 4.02 O.D. 4.03.1 3.98} Austria— Schillings to £1 20.72 N.Z T.T 1 . — O.D. — 20.74 Belgium— Helgas to £1 N.Z T.T. — 23.312 O.D. 23.327 'zi'cijusiovakiaCrowns to £1 N.Z T.T. — 95.62 O.D. — 95.67 Denmark--Kroner to £1 17.928 N.Z. .. . T.T. 18.178 O.D. 18.218 17.938 France — Francs to £1 N.Z T.T. 00.80 59.56 OD. 61.16 59.61 Germany— Reichmnrks 9.699 to £1 N.Z. T.T. O.D. — 9.70-1 Holland— Florins to £1 5.788 N.Z T.T. 6.038 O.D. 6.088 5.792 Italy— Lire to £1 T.'l’. — 48.95 O.D. 48.99 .Java— Florins to £1 N.Z. I .... T.T 5.971 5.746 O.D. 6.021 5.750 Norway— Kroner to £1 N.Z T.T. 16.170 15.920 O.D. 10.210 15.930 Sweden— Kroner to £1 N.Z. ... . T.T. 15.761 15.511 O.D. 15.801 15.521 Switzerland — Francs to £1 N.Z. ... . T.T. 12.413 12.013 O.D. 12.488 12.023 Noumea— Francs to £1 T.T. 61.81 58.81 O.D. 62.21 58.86 Papeete— Francs to £1 N.Z T.T. 61.81 5S.S1 O.D. 62.21 58.86 Hong-Kong— N.Z. pence to 1 dollar T.T. 31J 32 9-10 O.D. 312 321 India and Ceylon— N.Z. pence to 1 rupee T.T. 22 11-32 22 11-16 O.D. 22 7-32 22 §■ .Japan— N.Z. pence 17 13-16 to 1 yen T.T. — O.D. — Shanghai— N.Z. pence to 1 dollar . . T.T. 22 11-10 24 O.D. 22 9-16 23 15-16 Singapore— N.Z. pence 35f to 1 dollar T.T. 34 31G O.D. 34 1-16 35 1-16

U.S.A. Canada (per £1 N.Z.) (per £1 N.Z. 1 Selling— dols. dols. T.T. . 3.97# 3.98} O.D. . 3.084 3.984 Buying— •1.03} O.D. . 4.022

N. York. dol. to £ Julv23. July 22. Par. 4.911 3-16 4.96J +4.866 Montreal, dol. to £ 4.065 4.965 4.866 1’a.ris, fr. to £ 74 59-64 74 59-64 124.21 Brussels, bel. to £ 20.395 29.39 48.611 Geneva, fr. to £ 15.171 ] 5.161 25.225 Amst'dam, fl. to £ 7.341 7.33J 12.107 Milan, lire to £ 6iii-ie i 60 3-16 92.46 Berlin, inks, to £ 12.32 12.33 20.43 St’holni, kur. to £ 19.395 19.395 18.159 C'hagen, knr. to £ 22.395 22.395 18.159 Oslo. kur. to £ 19.995 19.905 18.159 Vienna, schgs. to £ 26.23 26.25 34.5S5 Prague, knr. to £ 119.375 119.25 164.25 Hel'fors, inks, to £ 226.875 226.875 103.23 Madrid, pes. to £ 36.125 36.125 Lisbon, esc. to £ 110.25 110.25 110 Athens, draeh. to £ *515 *513 375 Belgrade, din. to £ 215 215 276.31 Bucharest, lei to £ 487.30 485 813.60 Warsaw, zloty to £ — — 43.38 Rio de J„ p. to mil. tH Hi 5.899 B Aires, p to peso t35 t35 47.62 M. Video, p. to peso t»t>4 t39 5-8 51 Calcutta, p. to rup. 18 1-8 18 1-b 18 Shanghai, p. to dol. 18 7-8 18 7-8 —— H.-Kong, p. to dol. 25 9-16 25 9-16 — Y'hama, p. to yen Batavia, fl. to £ tScilers. offl 141 141 24.582 7.295 7.285 Iclal. •Sellers 12.107

Sydney 1934. Bales. . 04,805 . 101,957 1935. Bales. 43.256 12.264 Brisbane Victoria ......... . 16,635 18,924 \ del ft id o ......... . 20.045 4.815 Western Australia . 9,632 6,020 Tasmania 278 586 213,352 85,865