AUSTRALIAN EXCHANGE
* —• —" NEW TARIFF ANNOUNCED. ,ivv lei-grapn—Treat, .issue union.) WELLINGTON, Fe.b. 23. An important adjustment in the exchange rates New Zealand on Australia is announced by the associated banks trading in New Zealand. As from to-day the following rates are to be adopted: Buying, per £IOO New Zealand.— £ll8 ‘ 12s 6d, with right to concede down to £lO5 for genuine trade transactions. „ _ . , Selling, per £IOO New Zealand. £lO4 10s. No concessions. The significance of this announcement is that it indicates that the banks have now reached agreement upon toe rates of exchange, in respect of which there has been considerable variation in practice during the last month or so. The buying rate j|® co , u ~ firmed at the figure announced by the Bank of New Zealand at toe end or January, but- the selling rate, then fixed at £llß 2s 6d, is now reduced to £lO4 10s. -
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Bibliographic details
Hawera Star, Volume L, 24 February 1931, Page 5
Word Count
147AUSTRALIAN EXCHANGE Hawera Star, Volume L, 24 February 1931, Page 5
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