FOREIGN EXCHANGE

Dominion, Volume 29, Issue 150, 20 March 1936, Page 14

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 transient. O.D. represents on demand transactions The above rates are subject to altera•.i<'i> 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 London, March 18. The following mean closing rates on foreign exchanges were . current to-day compared with those ruling on March

(‘Sellers. official. ’Sellers. iPar, 8.23 31-32 since dollar devaluation on February 1, 1934. Gold and Silver. I.ondon. March 18. Gold.—£7/1/1 per ounce fine. Silver.—Cash, 19 5-Bd. per ounce: forward, 194(1. SATISFACTORY YEAR Metropolitan Building Society A satisfactory year's working was reported at the 45th annual meeting of the Metropolitan Permanent Building and Investment Society yesterday. In moving the adoption of the directors’ report and the balanee-sjieet, which were printed in this column on March 4. the chairman. Mr. Gordon J. Heid, said the demand for mortgage moneys, which had been quiet, now appeared to be improving. and it was hoped that with the more settled conditions, this side of the society's business would show a. marked improvement. The popularity of the *‘B” contributing share still ranked high among investors, and as the outlet for funds improved it might be possible to increase the issue of this class of share. During the year no less than £21,820 was paid out on matured shares. This amount represented the, accumulation of small monthly savings, plus profits, and proved beyond doubt the society’s utility as a medium of thrift. It was interesting to note that 60 per cent, of these shares was held by young people, thus clearly indicating what a great service the society was carrying on in this connection. Under the heading <deposits there was an increase of £2600, an indication of continued confidence of the depositing public. The Waterloo Road property, an addition to freehold property account, did not give the directors any cause for anxiety, it being situated in the best residential area of Lower Hutt. The report and balance-sheet were adopted, and the directors were authorised to dispose of the property mentioned. Tlie retiring directors, Messrs. J. Marchbanks and A. Longmore, were reelected, and Messrs. O. G. Kember and W. S. Wheeler were reappointed auditors. , A vote of thanks was passed to the directors and staff. ——————, Pukemiro Collieries Dividend By Telegraph— Press Association. Auckland, March 19. Pukemiro Collieries, Ltd., have declared an interim dividend of 6d. a chare, equal to 24 per cent.

New Zealand Buying. Selling. on London — £N.Z. to £stg.lOO T.T. 12-1 124/10/O.D. 123/10/124/8/9 Australia £A. to £N.Z. 100 .... T.T. 101 100/10/O.D. 101 100/10/Fiji— £F. to £N.Z. 100 .... T.T. 00/7/6 b!) O.U. 00/7/6 89 New York — Doi. to £1 N.Z. T.T. 4.02-1 3.98} O.D. 4.034 3.98} Montreal— Dol. to £1 N.Z. T.T. 4.02} 3.99 O.D. 4.03} 3.99} Austria — Schillings to £1 N.Z. .... T.T. — 20.72 O.D. — 20.74 Belgium— Bel. to £1 N.Z. T.T. — 23.389 O.D. — 23.400 Czechoslovakia — Or. to £1 N.Z. T.T. — 94.82 O.D. 94.87 Denmark — Kr. to £1 N.Z. T.T. 18.203 17.893 O.D. 18.263 17.903 France — Fr. to £1 N.Z. T.T. 60.69 59.86 O.D. 61.14 49.90 Germany— Mk. to £1 N.Z. T.T. — 9.797 O.D. — 9.802 Holland— Fl. to £1 N.Z. T.T. 5.937 5.787 O.D. 5.997 5.791 Java — Fl. to £1 N.Z. T.T. 5.905 5.745 O.D. 5.965 5.749 Norway— Kr. to £1 N.Z. T.T. 16.183 15.893 O.D. 16.243 15.903 Sweden — Kr. to £1 N.Z. T.T. 15.785 ro.490 O.D. 15.845 15.500Switzerland —• Fr. to £1 N.Z. T.T. 12.831 12.061 O.D. 12.436 12.066 Noumea — Fr. to £1 N.Z. T.T. 62.49 58.49 O.D. 62.94 58.55 Papeete— 58.64 Fr. to £1 N.Z. T.T. 62.49 O.D. 62.94 58.70 Hong-Kong— 20 41-64 N.Z. d. to 1 dol. T.T. 18 57-64 O.D. 18 51-64 20 39-04 India and Ceylon— 22 57-64 N.Z. d. to 1 rup. T.T. 22 9-64 O.D. 22 3-64 22} Japan— 17 9-16 N.Z. d. to 1 yen T.T. — O.D. — 17 35-64 Shanghai— ! 18 31-64 N.Z. d. to 1 dol. T.T. 17 7-64 .O.D. 16 59-64 18 15-32 Singapore— N.Z. d. to 1 dol. T.T. 34 25-64 35 29-64 O.D. 34 13-64 35 7-16

U.S.A. Canada Selling— f peril N.Z.) dels. (per 11 N.Z.) dole. T.T. . 3.98? 3.98? O.D. . 3.99 3.99S Buying— O.D. . 4.031 4.03?

17:— Mar. IS. Mar. 17. Par. N. York, dol. to 41 4.97 5-8 4.97 3-1G $4.8Gfl Montreal, dol. to £ 4.1)7 3-8 4.97 3-8 4.S6G Paris, fr. to £ 74 55-64 ; 74 55-04 124 21 Brussels, hel. to £ 29.28 29.285 48.011: Geneva, fr. to £ 15.14 15.135 25.225 Amst'dam. fl. to £ 7.29} 7.264 12.107 Berlin, inks, to £ 12.2S 12.29 20.43 St’holin, knr. to £ 19.395 19.395 18.159 C'hagen. knr. to £ 22.3115 22.395 18.159 Oslo. knr. to £ 19.1)05 19.905 18.159 Vienna schgs. to £ 2(1.25 26.25 34.585 Prague, knr. to £ 119.25 119.25 1(14.25 Hel'fors, inks, to £ -.j i 193.23 Madrid, pes. to £ 3G.125 36.125 25.225 Lisbon, esc. to £ 110.125 110.125 110 Milan, lire to £ 02.375 62.375 92.40 Athens, flrach. to £ ♦517 ♦517 375 Belgrade, din. to £ 217 217 276.31 Bucharest, lei to £ *669 *669 813.60 Warsaw, zloty to £ — — 43 38 Rio de J., p to mil t4t t4| 5.899 B. Aires, p. to peso' 435 V-jt) 47.62 M. Video, p. to peso I39 9-1G 739 9-1G 51 Calcutta, p. to nip. 18 1-8 IS 1-8 18 Shanghai, p. to'dol. 14J Hi — H.-Kong, p. to 'dol. 15? 15} •— Y'hania. p. to yen 13 31-32 13 31-32 24 5S2 Batavia, 11. to £ 7.225 7.225 12.107