FOREIGN EXCHANGES

Dominion, Volume 30, Issue 192, 11 May 1937, Page 12

FOREIGN EXCHANGES

Position of Sterling By Telegraph.—Press Assn.—Copyright. London, May 8. Jne following mean closing rates on lorelgn exchanges were current to-day compared with those ruling on May 7:—

♦Unofficial. fOfficlal. London, May 8. Gold.— £7/0/8 an ounce, fine. Silver.—Spot, 20gd. an ounce; forw’ard, 20 7-16 d. On New Zealand Currency Basis The Bank of New South Wales, Wellington. quoted the following rates for their purchases nnd sales of foreign exchange yesterday:—

The Associated Banks (other than the Batik of Now South Wales) quoted the following dollar rates yesterday on a New Zealand currency basis. They are subject to alteration without notice-

N.Z. Pound Abroad Based on figures quoted by tlie Bank of New South Wales, the New Zealand pound, compared with its original par value, is equivalent to approximately’: — 16/1 in London. £l/0/1 in Australia 16/3 in U.S.A. 16/2} in Canada. 11/2 in France. 16/3 in Italy. 9/7 in Germany. 11/9} in Java. £l'B/1} in Japan. New Broken Hill Consolidated Shareholders in New Broken Hill Consolidated, Ltd., have been informed that the No. 8 diamond drill borehole on the Barrier South leases at. Broken Hill (N.S.W.) has entered the broad lead lode. Enrlier last month the borehole entered calcitic lead ore at 1257 ft., and Bewick, Moreing and Co., engineers, stated that the formation appeared to be the top of the broad section of the lead lode. Confirmation of the fact that the ore intersected by the drill is the broad lead load was made by the general manager of the company (the Zinc Corporation. Ltd.) in a progress report issued lust week. The importance of this development is apparent, when it is realised that, the lode, one of the objectives of the company, has been encountered at a vertical depth 400 feet nearer the surface than expected

N. York, dol. to Montreal, dol. to £ Par. 4.S6G 4.806 May 7. May 8. 4.93J 4.933 4.92 7-16 Paris, fr. to £ 124 91 109 27-32 4.92 7-16 109 59-64 Brussels, bel. to 48.611 29.225 29.22} 21.58 Geneva, fr. to £ 21.58 Amst’dam, 11. to £ 12.107 8.995 8.905 Berlin, inks, to £ 20.43 12.28 12.275 St’bohn, knr. to 18.159 19.395 19.395 C’hagen, knr. to X* 18.159 22.40 22.40 Oslo, knr. to £ 18.159 19.Wr 19.90 "Vienna, schgs. to £ 34.585 26.50 26.50 Prague, knr. to X* 134.25 111 11-16141 11-16 He! tors, inks, to £ .193.2;: 226.125 Madrid, pes. to Lisbon, esc. to X* £ 1.00 110.3-16 110 3-1G Milan, lire to £ 92 93 13-16 93 13-16 Athens, drac. to £ 375 *517* ♦547* Bucharest, lei to £ 813.60 *672.50 *672.50 Belgrade, din. to £ 276.31 215 215 Rio de J., p. to mil 5.899 74 } |4i B. Aires, p. to pesa 47.62 M. A ideo, p. to peso 51 t39J 1-39 J Calcutta, p. to rup. Shanghai, p. to dol. 18 18Jis'i —— 14 15-16 14 15-16 H.-Kong, p. to dol. . 14 15-16 14 15-16 Y’hama, p. to yen. 24.582 14 14 Batavia, II. to £ 12.107 8.975 8.97

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U.S.A. Doi. Canadian Doi. Sellin er (Per £1 N.ZJ filer £1 N.Z.) T.T. 3.95 11-16 3.94J O.D. 3.90 3-10 3.95J Buyin" O.D. 4.00 9-16 3.99 9-16