COMMERCIAL

Evening Post, Volume CXXVII, Issue 107, 9 May 1939, Page 5

COMMERCIAL

FOREIGN EXCHANGE RATES

Closing direct rates as quoted by the Bank of New South Wales, Wellington, today, for buying and selling foreign currencies, based on New Zealand currency, were as follows: —

The £ 1 is £ 1 in New Zealand currency. The rates are subject to alteration without notice.

Based on the rates quoted above, the i\-nv Zealand pound, compared with its original par value, is equivalent to approximately 16s in London, £1 m Australia. 15s 4d in U.S.A.. 15s 5d tn Canada. £1 2s 7£d in France, 15s 4|'d in Italy, 9s Ofd in Germany, lis 52d in Java, £1 7s ll£d in Japan.

LAMB MARKET IMPROVES

Cathie, Dempster, and Co. have received today a cable from their London principals advising that the lamb market on spot London is slightly better and the tendency is for higher prices. The real demand for New Zealand lamb sets in usually about the end of May and steadily improves right through the summer months in England.

NOKOMAI GOLD MINE PROFITS

(Special to the "Evening Post.")

DUNEDIN, This Day. A net profit of £1747, against a net loss of £2545 for last year, is reported by the Nokomai Gold Mining Company. The gold won amounted to 16370z, against the previous period's recovery of 11360z, or a difference in value of £4083.

CROSSBRED TOPS FIRM,

(By Telegraph—Press Association—Copyright.) (Received May 9, 12.45 p.m.) LONDON, May 8. On the Bradford tops market crossbreds are firm with a good demand and heavy consumption of counts of 48 and below. Merinos are quiet, but quotations are well maintained.

nitying. selling. £ s. d. £ s. d. London —SNZ to £st. 100 T.T. 124 7 6 123 0 0 0.1). 123 18 9 124 19 6 Australia —£A to £NZ 100 T.T. 100 10 0 100 0 0 O.D. 100 10 0 100 0 0 Fiji—£F to £NZ 100. T.T. 90 0 0 SS 12 6 O.D. 90 0 0 SS 12 6 New York —Dollars to £ N.Z. 1 T.T. 3.7743 3.7310 0.1). 3.7793 3.7320 Montreal—Dollars to £ NZ 1 T.T. 3.7SS9 3.7490 T.T. 3.7970 3.7500 Belgium — Belgas to £ NZ 1 T.T. 22.307 21.907 O.D. — 21.912 Denmark — Kroner to £ NZ 1 T.T. 18.140 17.830 O.D. 18.200 17.832 Finland — Marks to £ NZ 1 T.T. 1S4.7S 178.98 O.D. 1S5.1S 179.08 France — Francs to £ NZ 1 T.T. 142.99 140.49 0 D. 144.24 140.51 Germany—Reichsmarks to £NZ 1. ...... T.T. — 9.267 O.D. — 9.269 Greece—Drachmae to £ NZ 1 T.T. • — 425.19 O.D. — • 425.34 Holland Florins to £ NZ 1 T.T. 7.105 6.955 O.D. 7.145 6.957 Italy—Lire to £NZ 1. T.T. — 70.93 O.D. — 70.95 Java—Florins ro £NZ 1. « T.T. 7.0S6 6.936 O.D. 7.126 . 6.938 Norway—Kroner to £ NZ 1 T.T. 16.126 15.836 O.D. 1G.1SG 13.839 Noumea — JTrnacs to £ N.Z. 1 T.T. 145.49 138.74 O.D. 146.99 138.78. Papeete — Francs-to £ NZ 1 T.T. 144.89 138.89 O.D. 146.39 138.93 Sweden — Kronor to £ N.Z. 1. .- T.T. 15.744 ' 15.449 O.D. 15.804 15.432 Switzerland — Francs to SNZ 1 T.T. 16.865 16.595 O.D 16.965 16.598 Hong Kong — N.Z. pence to 1 dollar T.T. 18% 18 5-8 O.D. 18 7-32 18 5-8 India and Ceylon—N.Z. pence to 1 rupee T.T 22 7-32 22V_ O.D. 22 3-16 221/. Japan—N.Z. pence to 1 yen T.T. — ■ 17 37-64 „ , O.D. — 17 37-G4 Manila—N.Z. pence to 1 Peso T.T. 3135-6-1 32% ■ O.D. 31 29-64 32% ! Shanghai—N.Z. pence to I 1 dollar T.T. — 11 O.D. — 11 Singapore—N.Z. pence to ' dollar T.T. 34 33-64 35 O.D. 34 27-64 35 Cnion of South Africa— £XZ to £SA 100 T.T. 123 4 6 124 17 0 O.D. 122 17 0 124 17. 0