THE BANK RATE
As reported by telegram on Saturday, the chairman of the Associated Banks announce that on and after that day the following rates of interest will be paid by tlie hanks on fixed deposits: — For any period between 3 and 12 months 3|% For any period between 12 and 24 months %% For 24 months , 5 % The minimum overdraft rate will be increased to 7 per cent. The chairman of the Associated Banks also advised that the following rates of exchange, London on New Zealand, came into operation on and after 31st January:— BUYING SELLING Per cent. Discount. 70/-% ... (on demand) 47/6% discount. 81/3% ... (30 D/S) 92.6% ... (60 D/S) 103/9% ... (120 D/S) Telegraph Transfer 40/- % discount. The following exchange rates, New Zealand on Londan, came into force on 31st January:— BUYING. SELLING. Telegraph Transfer. 52/6% premius. Per cent. Prem. 12/6 ... (on demand) 40/- % premium 10/6 ... ( 3 D/S) 2/6 ... (30 D/S) 32/6% premium. Per cent. Discount. 7,6% ... (60 D/S) 25/- % premium. 17/6' ... (90 D/S) 17/6% premium. 27/6 ... (120 D/S)
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NEM19300203.2.5
Bibliographic details
Nelson Evening Mail, Volume LXIV, 3 February 1930, Page 2
Word Count
169THE BANK RATE Nelson Evening Mail, Volume LXIV, 3 February 1930, Page 2
Using This Item
Stuff Ltd is the copyright owner for the Nelson Evening Mail. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.