FOREIGN EXCHANGES.

Manawatu Standard, Volume LIX, Issue 63, 15 February 1939, Page 4

FOREIGN EXCHANGES.

ON NEW ZEALAND CURRENCY BASIS. The Bank of New South Wales, Wellington, quoted tho following rates for their purchases and sales of foreign exchange yesterday:—. Now Zealand. Buying. Selling, on London — £N.Z. to

Tho Associated Banks (other than tho Bank of New South Wales) quoted the fob lowing dollar rates yesterday on a Now Zealand currency basis. They are subject to alteration without notice. U.S.A. Canadian dollars. dollars. Selling— (Per £N.Z.) (Per £N.Z.) T.T." 3.721 3.74 j O.D 3.725 3.741 Buying— O.D 3.73 5-16 3.SOj

Tho bad season and years of low prices for bulls have had a depressing effect on the Btud beef cattlo industry in. Australia. As a result, several prominont studs have been dispersed and others are likoly to be broken up as soon as seasonal conditions improve. The protracted dry spell over practically the whole of tho grazing districts of New South Wales will bo responsible for a falling-off in the entries of all beef breeds at this year’s Sydney Royal Show.

Stg.lOG .... T.T. 124/17/6 125 0.0. 123/18/9 124/19/6 Australia- £ to£N.Z. 100 T.T. 100/10/0 100 O.D. 100/10/0 100 Fiji— £ K to £N.Z. 100 T.T. 90 '68/12/6 O.D. 90 83/12/6 Now York— Ool. to £N.Z. T.T. 3.7783 3.7350 O.D. 3.7833 3.7360 Mon (.real — Ool. to £N.Z. T.T. 3.7947 3.7548 O.D. 3.8034 4.7658 Franco — Frs to £N.Z. T.T. 143.16 140.66 O.D. 144.41 140.68 Jlong Ivontr — N.Z. cl. to dol. T.T. 18 7-16 18 13 16 O.D. 18 13-32 18 13-16 Japan— N.Z. d.todol. T.T. — 17 37-64 O.D. — 17 37-64 Shanghai— N.Z. d to dol. T.T. — 10 59-64 O.D. — 10 59-64