FOREIGN EXCHANGE

Dominion, Volume 29, Issue 183, 1 May 1936, Page 14

FOREIGN EXCHANGE

Gn New Zealand Currency Basis DIRECT DOLLAR RATES rhe 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 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.—Co> yrlght. Landon, April 20. The following mean closing rates an foreign exchanges were current to-day compared irfth those ruling on April 28:—

+l’ar. 8.23 31-32 since dollar devaluation on Februarj’ 1. 1934. Gold and Silver. London. April 20. Gold.—£7/0/94 per ounce, line. Silver.—Cash. 20 3-10 d. per ounce; forward, 20 3-10 d. N.Z. WOOL SALES Question of Daily Offerings An endeavour will be made this year to arrange a joint conference of all interested in wool sales, with a view to altering the present sale arrangements so that daily’ offerings maj T be limited to a set maximum. The matter was discusser! at Tuesday’s meeting of the Canterbury Sheep Owners’ Union, when a letter was received from the New Zealand Woolbrokers’ Association about the possibility of improving the arrangements for sales of wool at the various selling centres within the Dominion. The letter expressed the opinion that after several discussions between the Woolbuyers’ Association and the wool-brokers, it was found that there were many difficulties in making a change which did not appear- at first sight, and it had been found impracticable hitherto to bring the suggested system of limitation of daily offerings into vogue. The association, however, gave its assurance that the matter would be discussed at tiie half-yearly meeting to be held in the present month. ’ After a full discussion, in which the opinion was expressed Hint the alterations made in Australia by which smaller catalogues were offered on each selling day had shown beneficial results, the letter'was received and the question referred to the federation executive with a view to, if possible, arranging a joint conference of representatives of those interested on the return of the buyers to the Dominion nt the beginning of the next selling season. Golden Gully Sluicing Co. A meeting of shareholders of the Golden Gully Sluicing and Development Company. Ltd., will be held on Maj’ 7 to consider and. if thought fit, pass the following resolution: "That the company, by reason of its liabilities, cannot continue its business, and that it be voluntarily wound up.”

New Zealand Buying. Selling. on London — £N.Z. to 124/10/124/8/9 fstg.lOO T.T. O.D. 124 123/10/Australia — £A to £N.Z. 100/10/100 .... T.T. 101 O.D. 101 100/10/Fiji— £F. to £N.Z. 89 .100 .... T.T. 90/7/0 O.D. 90/7/6 89 New York — 3.991 3.951 Doi. to £1 N.Z. T.T. O.D. 4.01 3.961 Montreal — Doi. to £1 N.Z. T.T. 4.003 . 3.97} O.D. 4.02 3.971 Austria— Schillings to £1 N.Z T.T. —— 20.77 O.D. .—... 20.79 Belgium— Bel. to £1 N.Z. T.T. — 23.341 O.D. —■ 23.352 Czechoslovakia — 95.06 95.11 Cr. to £1 N.Z. T.T. O.D. — Denmark — 17.893 Kr. to £1 N.Z. T.T. 18.203 O.D. 18.263 17.903 France — 59.97 Fr. to £1 N.Z. T.T. 60.S0 O.D. 61.25 60.01 Germany— 9.797 Mk. to £1 N.Z. T.T. — O.D. — 9.S02 Holland — 5.797 Fl. to £1 'N.Z. T.T. 5.947 O.D. 6.007 5.801 Java — 5.761 Fl. to £1 N.Z. T.T. 5.921 O.D. 5.981 5.765 Norway— Kr. to £1 N.Z. T.T. 16.183 15.893 O.D. 16.243 15.903 Sweden — 15.490 Kr. to £1 N.Z. T.T. 15.785 O.D. 15.845 15.500 Switzerland — Fr. to £1 N.Z. T.T. 12.391 12.121 O.D. 12.496 12.126 Noumea — Fr. to £1 N.Z. T.T. 62.60 58.60 O.D. 63.05 58.66 Papeete 1 — 62.60 Fr. to £1 N.Z. T.T. 58.75 O.D. 63.05 5S.S1 Hong-Kong— N.Z. d. to 1 dollar .. T.T. 18 57-64 20 25-64 O.D. 18 51-64 20 23-64 India and Ceylon— N.Z. d. to 1 rupee . • T.T. 22 9-64 22 57-64 O.D. 22 3-64 ' 22J Japan— ■ N.Z. d. to 1 yen .... T.T. —• 17 41-64 O.D. —— 171 Shanghai— N.Z. d. to 1 dollar .. T.T. 1717-64 18 41-64 O.D. 17 5-64 18| . Singapore— N.Z. d. to 1 dollar .. T.T. 34 27-64 35 31-64 O.D. 3415-64 35 15-32

U.S.A. (peril N.Z.) i Canada (per £1 N.Z.) Selling— dels. dols. T.T. . 3.96 3.97} 0.1). . 3.961 3.97} Buying— O.D. . 4.00J 4.02J

Apr. 29. Apr. 28. Par. N. York. dol. to £ '4.93 7-8 4.93} J4..800 Montreal, dol. to £ 4.95 3-8 4.95 1-8 4.800 Parts, 1'r. to £ 74 03-04 74 03-04 124.21 Brussels, bel. to £ ’’9 °25 >>9 oo 48.011 Geneva, fr. to £ 15.21 i.vid 25.225 AmsCdani, fl. to £ 728 7.275 12.107 Berlin, niks. to £ 12.29 12.285 20.43 St’holm, knr. to £ 19.395 111.395 . 18.159 C'liagen, knr. to .£ 22.395 22.395 18.159 Oslo, knr. to £ 19.905 19.905 18.159 Vienna, schgs. to .£ 2(1.25 20.25 34.585 Prague, knr. to £ 119.50 119.50 104.25 Hel’fors, inks, to £ 227 227 193.23 Madrid, pes. to £ 36 13-01 , 30.375 jo. J Jo Lisbon, esc. to £ 110.125 110.125 no Milan, lire to £ 02.75 02.75 92.40 Athens, draeh. to £ •521 *519 375 Belgrade, din. to £ 217 217 270.31 Bucharest, lei to £ •070 •070 813.00 Warsaw, zloty to £ — — 43.33 Bio de J., p. to mil • tu tn 5.899 B. Aires, p. to peso 735 739} 735 47.02 M Video, p. to peso 739 J 51 Calcutta, p. to rup. 181-8 18 1-8 IS Shanghai, p. to dol. 14J Ui H.-Kong, p. to dol 15 13-10 15 13-10 — Y’liama, p. to yen 14 1-10 14 1-32 24.582 Batavia, fl. to £ tScllers. official. 7.245 •Sellers. 7.245 12.107