FOREIGN EXCHANGES

Dominion, Volume 31, Issue 204, 26 May 1938, Page 14

FOREIGN EXCHANGES

Position Of Sterling

By 'Telegraph.—Press. Assn.—Copyright. London, May 24. 'The following meau closing rates on foreign exchanges were current to-day compared with those ruling on May 23;—

London, May 24. Gold.—B7/0/4J an ounce, line. Silver.—Spot, 18 11-16 d. an ounce; forward, 18Jd.

On New Zealand Currency Basis

The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchange yesterday:—

Tlie Associated Banks (other than Hie Bank of New South YVales) quoted the I'olfollowing dollar nites yesterday on a New Zealand currency basis. They -ire --übieei Hi alteration without notice

N.Z. Pound Abroad Bused on ligures quoted by the Bank of New South Wales, the New Zealand pound, compared with its original par value, is equivalent to approximately:— Hi, 1 in Loudon. £l/0/1 in Australia. 1(1/3} in U.S.A. 10/5} in Camilla. £ 1/2/01 in l-'ratiee. 1(1/3} in Italy. '.l/7} in Germany. 11/01 in Java. el/8/1 in Jillian. Broken Hill Ppty. Output Pruductiun uf ingot steel by Broken Hill Proprietary Company, Limited, at the Newcastle Steel Works. New South Wales, in the first -18 weeks of the company's current financial year shows an Increase of 94,927 tons on that of the corresponding period of the preceding year. Figures for the first. 48 weeks of the past, three financial years are:—l93(», 575.244 tons; 1937. 973,799 tons; 1938, 738.393 tons. As the current four-weekly production period ending on May 31 will complete the financial year, the increase in the tonnage to date indicates that output for the full financial year will substantially exceed that of the preceding year.

Par. May 23.' May 24. N. York, dol. to £ 4.866 4.95 1-16 4.95 5-18 Montreal, dol. to £ 4.SOO 4.99} 5.00 JParis, fr. to £ 124.21 178 11-16 178 7-32 Brussels, bel. to £ — 29.43} 29.435 Geneva, fr. to £ 25.225 21.74 21.725 Amst’dam, fl. to £ 12.107 8.97} 8.98 Berlin, mks. to £ 23.43 12.305 12.35} St’holm, knr, to £ 18.15!) 19.406 19.405 C'hagen knr. to £ 18.159 22.40 22.40 Oslo, knr. to £ 18.159 19.90 19.90 Hel’fors, inks, to £ 193.23 226.375 228.375 Prague, knr. to £ 134.25 142.875 142.875 Madrid, peg. to £ 25.225 — Lisbon, esc. to £ 1(H) 110 3-16 110.25 Milan, lire to £ 92 94.125 94.125 Athens, drac. to £ 315 517.50 547.50 Bucharest, lei to £ S13-60 077.50 077.50 Belgrade, din. to £ 270.31 217 217 Rio de J., p. to mil 4.99 12 13-16 12 13-10 B. Aires, p. to pesa 47.62 18.95 18.95 M. Video, p. to peso 51 120} 120} Calcutta, p. to rup. 18 17 29-32 17 29-32 Shanghai, p. to dol. 18 11 11 H.-Kong, p. to dol. — 14 J 14} Y’hama, p. to yen 24.582 14 14 Batavia, fl. to £ 12.107 8.98 8.96 t Market Rate >. + Sellers Official.

New Zealand on Buying. Selling. London £N.Z. to £stg. T.T. 124. 124/10/100 O.D. 123/10/124/8/9 Australia T.T. 101 100/10/£Ato £N.Z. 100 O.D. 101 100/10/Fiji T.T. 00/7/0 89 £F to £ N.Z. 100 O.D. 90/7/6 b‘J New York T.T. 4.0014 3.9669 Doi. to £N.Z. . O.D. 4.0114 3.11709 Montreal T.T. 4.0412 4.0088 Doi. to &N.Z. . (1.1 > - -1 4.(1128 Belgium 3' 'I 1 23.850 23.540 Bel. to £N.Z. . O.D. 23.025 23.551 Czechoslovakia .. T.T. — 113.57 Krs. to £N.Z. . O D. — 113.62 Denmark T.T. 18.203 17.893 Knr. to £N.Z. . O.D. 18.233 .17.899 Finland T.T. 185.03 179.23 Mks. to £N.Z. . O.D. T.T. 185.43 1.70.33 France —— 141.43 Frs. to £N.Z. . O.D. — ■ 141.47 Germany T.T. — 9.854 Mks. to £N.Z. . O.D. — 9.859 Greece T.T. — 420.54 Drac. to £N.Z. . O.D. — 429.84 Holland T.T. 7.315 7.165 FIs. to £N.Z. . O.D. T.T. 7. 7.109 Italy — 75.43 Lire to £N.Z. . O.D. 75.48 Java T.T. 7.291 7.141 FIs. to £N.Z. . O.D. 7.331 7.145 Norway T.T. 10.182 15.892 Krs. to £N.Z. . O I). 16.242 15.898 Noumea T.T. — 140.18 Frs. to £N.Z. . O.D. — 140.22 Papeete T.T. — 140.23 Frs. to £N.Z. . O.D. — 140.27 Sweden T.T. 15.785 15.490 Km. to £N.Z. . O.D. 15.845 1.5.496 Switzerland T.T. 17.633 17.3(21 Frs. to £N.Z. . O.D. 17.738 17.3GS Chcfoo T.T. — 1 1 47-64 N.Z. d. to Doi. . O.D. 14 23-32 Hong-Kong T.T. 18? ISJ N.Z. d. to Did. . O.D. IS 11-32 1 s** ■ India and Ceylon T.T. 22 7-64 22 25-64 N.Z. d. to Hup. O.D. 22 '5-61 22 25-04 Japan T.T. — 174 N.Z. d. to Yen . O.D. — 174 Manila T.T. 29 1-32 30 N.Z. d. to Peso . O.D. 29 13-32 30 Shanghai T.T. — .14 27-04 N.Z. d. to Doi. . O.D. — 14 27-6-1 Singapore T.T. 34 i 34 47-64 N.Z. d. to Doi. . O.D 34 5-32 34 47-64

U.S.A. 1)01. Canadian Doi Selling ■ < Per £1N.Z.) (Per iil.X.Z.i T.T. 3.90'J 4.00 15-Hi 0.1). 3.97 J 1.01 5-16 Hu ving : 0.1). -1.01 1.05 5-10