FOREIGN EXCHANGE

Dominion, Volume 29, Issue 198, 19 May 1936, Page 12

FOREIGN EXCHANGE

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

Singapore— N.Z. d. to 1 dollar ... T.T. 34 27-64 35 31-64 O.D. 34 15-64 35 15-32 T.T. represents telegraphic transfers. O.D. represents on demand transactions. The above rates arc 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. London, May 16. The following mean closing rates on foreign exchanges wore current to-da.v compared with those ruling on May 15:— May 16. May 15. Par.

JPar, 5.23 "1-32 since dollar devaluation on February 1. 1934. Gold and Silver. I,ondon, May 15. Gold.—£7/0/3 per ounce, fine. Silver.—Cash. 29 5-Sd. per ounce; forward, 23 11-16(1. N.Z. Pound Abroad Based on rhe figures quoted by the Bank of Now South Wales the New Zealand pound, compared witli its original par value, is equivalent to approximately: 16/1 in London. > £l/0/1 in Australia. 16/4} in U.S.A. 16/5 in Canada. 9/.BJ in France. 9/7} in Germany. 9/7 in Java. . £l/7/10} in Japan. Gold Mining Returns The Okarilo dredge reported to the Stock .Exchange Association a return of 12oz. Kidwt. for 1.30 hours’ work. The secretary of Skippers. Ltd. reports that word has been received from the mine manager that a further partial wash-up has produced 390 z. 7dwt. of gold for forty-eight hours’ sluicing, and represents .32 square yards of bottom. The paddock is not completed yet nnd good gold is still showing. A further partial washup is expected at an early date, weather permitting. By Telegraph—Press Association. Aiicliland. May IS. The Mn.taki dredge return for the week ended May 17 was .3.3 ounces for 13.3 hours' work. Cable and Wireless, Ltd. London, May 17. Cable and Wireless, Ltd.'s, accounts show the highest receipts from messages since 1931. The total was £-1,902,000 in sterling, while station and working maintenance charges fell by £31,000. Net profits rose from £625,000 last year to £1,001,000. The dividend is increased from 2 per cent, to 3} per cent., with a special dividend of 42/8, payable out of reserves, which have risen by £717,000, Cable and Wireless, Ltd., Hie holding company, shows lower dividends from its subsidiaries, but more was earned from investments. Gross revenue increased £39,000. The net profit is also higher at £1,026,000. The dividend is increased to 5} per cent, on the cumulative preference aMres.

New Zealand on Buying. Selling. London — £N.Z. to £stg.lOO T.T. 124 124/10/O.D. 123/10/121/8/9 Aust ralia — £A to £N.Z. 100/10/100 T.T. 101 O.D. 101 100/10/Fiji— £F. t <> £N.Z. S9 100 .. • T.T. 90/7/6 O.D. 90/7/6 so Now York — _ Did. to £1 N.Z . T.T. 4.015 3.971 O.D. 4.02? 3.98s Montreal — Did. to £1 N.Z . T.T. 4.02? 3.991 O.D. 4.04 3.991 Aust ria—• Schillings to £1 20.72 Z • • • T.T. —— 0.1). — 20.74 Belgium— Bel, to £1 N.Z. T.T. .— 23.434 O.D. — 23.145 Czechoslovakia— 95.06 Cr. to £1 N.Z. T.T. O.D. — 95.11 Denmark — 17.S93 Kr. to £1 N.Z. T.T. 1S.203 O.D. 18.263 17.903 Franco — Fr. to £1 N.Z. T.T. •— 60.26 O.D. — 60.30 Germany— 9.834 Mk. to £1 N.Z. T.T. —— O.D. —— 9.839 Holland— Fl. to £1 N.Z. T.T. 5.S53 O.D. —• 5.857 JavaFl. to £1 N.Z. T.T. — 5. SOO O.D. — 5.813 Norway— 15.S93 Kr. to £1 N.Z. T.T. 16.1 S3 O.D. 16.243 15.903 e to £1 N.Z. T.T. 15.7S2 15.4S7 O.D. 15.842 15.497 Switzerland — Fr. to £1 N.Z. T.T. 12.234 O.D. — 12.239 Noumea — Fr. Io £1 N.Z. T.T. — 5S.S9 O.D. — 58.95 Papeete—59.04 Fr. to £1- N.Z. T.T. — O.D. —— 59.10 Hong-Kong— N.Z. d. to 1 20 19-64 dollar T.T. 18 51-64 O.D. 18 45-64 20 17-64 India and Ceylon — N.Z. d. to 1 rupee T.T. 22 9-64 22 57-64 O.D. 22 3-64 22? Japan— N.Z. d. to 1 yen .... T.T. .— 17 21-32 O.D. —• 17 41-64 Shanghai—N.Z. d. to 1 IS 31-64 dollar T.T. 17 7-64 O.D. 16 59-64 IS 15-32

U.S.A. (per£l N'.Z.) Canada (peril N.Z.) Sellinc— doh. dels. T.T. . 3.974 3.091 O.D. . 3.9S4 3.99J Buyinc— O.D. . 4.02f 4.04J

N. York. <lol. to £ Montreal, (lol. to £ 4.905 4.1)7 7-8 4.00 3-8 74.800 4.075 4.800 Paris, fr. to £ 75 23-04 75 17-04 124.21 Brussels, bel. to £ 211.34 29.32 4S.011 Geneva, fr. to £ 15.35 15.32 25.225 Amst'dani. fl. to £ 7.34:! 7.3.35 12.107 Berlin, inks, to £ 12.33 12.305 20.43 St'holni, knr. to £ 19.395 19.305 18.159 C'hagen, knr. to £ 22.3115 22.305 18.159 Oslo, knr to £ 19.905 10.005 18.159 Vienna, schgs. to £ 20.51) 20.50 34.585 Prague, knr. to £ 110.025 119.50 104.25 Hel'fers, inks, to £ — - ( •JJ 1 193.23 Madrid, ties, to £ 30 23-04 30 5-10 n.5.225 Lisbon, esc. to £ 110.125 110.125 iib” Milan, lire Io £ 03.25 0.3.25 92.40 Athens, draeh. to £ *520 520 375 Belgrade, din. to £ 218 21!l 270.31 Bucharest, lei to £ *073 •072 813.00 Bio de ,1.. p. to mil *41 5.899 B Aires, p. to peso f 4 7.02 M. Video. 11. to peso 139 5-10 139 3-8 51 Calcutta, p. to rup. IS 1-8 18 1-8 18 Shanghai, p. to dol. 14 7-10 141 — II.-Kong, to dol. 15 25-32 1 15? — Y'liama p to yen Batavia, fl. to £ tSellers. official 14 1-32 14 1-32 24.582 7.315 •Sellers. 7.295 12.107