FOREIGN EXCHANGES

Dominion, Volume 31, Issue 140, 10 March 1938, Page 14

FOREIGN EXCHANGES

Position Of Sterling By Telegraph.—Press Assn.—Copyright. London, March 8. The following mean closing rates on foreign exchanges were current to-day compared with those ruling on March 7: — Par. Mar. 7. Mar. 8.

Price of Gold and Silver.

London, March 8. Gold.—£6/19/7i an ounce, fine. Silver.—Spot, 20 l-16d. an ounce; forward, 19 13-l Gd. On New Zealand Currency Basis The Bunk of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchange

TS.Zj. U. LU LUI. . w.i-y. w* — 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 n IfnrntinTi not.lpe.

N.Z. Pound Abroad Based on ligures quoted by the Bank of New South Wales, the New Zealand pound, compared with its original par value, 13 equivalent to approximately:— 16/1 In London. £l/0/1 In Australia. IG/6J in U.S.A. 16/6 in Canada. 20/- in France. 16/61 in Italy. f»/8-l in Germany. 11/91 in Java. £l/8/11 in Japan. Weakness In French Franc By Telegraph.—Press Assn.—Copyright. London, March 8. Owing to fears of fresh borrowing for rearmament in France, combined with the interpretation of M. Chantemps a statement that France must make ‘ further sacrifices,” ns foreshadowing the adoption of u deliberate downward adjustment of the French franc, foreign exchanges are most unsettled. „ Speculators are again ‘'bearing francs, and the discount rate for three months’ francs has widened to 5,1 per cent.

N. York, dol. to £ 4.860 5.00131G 5.01 9-10 Montreal, dol. to £ 4.866 5.01 15-16 5.01? Paris, fr. to 124.21 lol 31-64 luG Brussels, bel. to £ 4S.611 29.61 29.625 Geneva, fr. to 25.225 21.60 21.605 Amst’dam, fl. to £ 12.107 8.96} 8.96J Berlin, mks. to & 23.43 12.40* 12.41 St'holm, knr. toi j 18.151) 19.415 19.425 C’hagen, knr. to £ 18.151) 22.40 22.10 ■ Oslo, knr. to £ 18.159 19.90 19.90 Vienna, schgs. to £ 34.585 26.50 20.50 Hel’fors, mks. to £ 193.23 : 226.125 226.125 Prague, knr. to 134.25 142'.50 142.50 Madrid, pes. to £ 25.225 — —— Lisbon, esc. to £ 100 110 3-16 110 3-16 Milan, lire to X? 92 95 3-10 95.25 Athens, drac. to st, 375 547.50 547.50 Bucharest, lei to 813.60 677.50 607.50 Belgrade, din. to & 276.31 216 210 Rio de J., p. to mil 4.899 1213-16 1213-16 B. Aires, p. to pesa 47.62 —— — M. Video, p. to peso 51 721.1 721* Calcutta, p. to rup. 18 18* 18* Shanghai, p. to dol. 18 14 3-16 14 3-10 IL-Kong, p. to dol. —. 15 15 l"hama. p. to yen 24.582 13 63-04 13 63-64 Batavia, fl. to £ 12.107 8.945 8.945 t Market Rate . f Sellers Official.

yesterday New Zealand Buying. Selling. on London T.T. 124 124/10/£N.Z. to £stg. 100 O.D. T.T. O.D. 123/10/124/8/9 Australia £Ato £N.Z. 100 101 100/10/Fili £F to £N.Z. 100 T.T. O.D. 00/7/6 89 New York T.T. • 4.0578 4.0231 O.D. 4.0G78 4.U2/1 Montreal T.T. 4.0573 +.0249 Doi. to £N.Z. . O.D. 4.0093 4.0289 Austria T.T. — 21.03 Seligs, to £N.Z. O.D. — 21.04 Belgium T.T. 24.005 23.695 Bel. to £N.Z. . O.D. 24.0S0 23.706 Czechoslovakia ... T.T. — 113.71 Krs. to £N.Z. . O.D. — 113.76 Denmark T.T. 18.203 17.893 Knr. to £N.Z. . O I). 18.263 17.899 Finland T.T. 184.94 179.14 Mks. to £N.Z. . O.D. 185.34 179.24 France T.T. — 124.33 Frs. to £N.Z. . O.D. — 1Z4.37 Germany T.T. —— 9.898 Mks. to £N.Z. . O.D. — 9.903 Greece T.T. — 429.54 Drac. to £N.Z. . O.D. •— 429.84 Holland T.T. 7.307 7.157 FIs. to £N.Z. . O.D. 7.347 7.161 Italy T.T. — 76.38 Lire to £N.Z. . O.D. —— 76.43 Java T.T. 7.279 7.129 FIs. to £N.Z. . O.D. 7.319 ' / .J o3 15.892 Norway T.T. 16.182 Knr. to £N.Z. . O.D. 16.242 15.898 Noumea T.T. — 123.08 Frs. to £N.Z. . O.D. — 123.12 Papeete T.T. — 123.13 Frs.- to £N.Z. . O.D. — 123.17 Sweden Knr .to £N.Z. • T.T. O.D. 15.805 15.865 15.510 • 15.516 Switzerland Frs. to £N.Z. . T.T. O.D. 17.540 17.645 17.270 17.275 Chet'oo T.T. — lb J N.Z. d. to Doi. . O.D. — 18 7-64 Hong-Kong T.T. 18 29-64 18 53-64 N.Z. d. to Doi. . O.D. 18 27-64 18 53-64 India and Ceylon . T.T. 22J N.Z. d. to Hup. . Japan N.Z. d. to Yen . O.D. T.T. O.D. 22 11-32 22 21-32 — 17 31-64 — 17 31-64 Manila T.T. 29 5-l( 5 29 13-16 N.Z. d. to Peso . O.D. 29 7-31 > 29 13-16 Shanghai T.T. — 18 9-64 N.Z. (1. to Doh • O.D. — 18 9-64 Singapore N.Z. d. to Doi. . T.T. O.D. 3437-64 3o 1-36 3431-64 35 1-16

to alteration r without notice. , U.S.A. Doi. Canadian Doi. Selling: T.T. (Per £1N.Z.) (Per £1N.Z.) 4.02 3-10 4.02 3-16 O.I>. 4.025 4.025 Buying: O.D. 4.06 0-16 4.065