THE EXCHANGE
AUSTRALIA ON LONDON Exchange Sydney on London was (inoted the other day by the hanks as follows:—On the basis of £IOO London : Telegraphic transfers, buying LloJ Australia; selling, £l3O 10s Australia. Quietness was noticeable in the outside exchange market when the Sydney mail left for New Zealand. So far as could he gleaned by the “Sydney Morning Herald” in a number of sources where activity had prevailed up to last week, what business was passing was negligible in extent, ll was fully evident that, with a lessened demand lor remittances to London for non-comincr-cial purposes, sellers ol funds laid perforce to modify their ideas. Their increased willingness to attempt to find a basis for dealing indicated a drift in the outside market levels toward the banks carded rates. Private cable advice showed that in London on dlb February the quotation was £l3l to £132, with little business materialising.
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https://paperspast.natlib.govt.nz/newspapers/NEM19310224.2.16
Bibliographic details
Nelson Evening Mail, Volume LXIV, 24 February 1931, Page 3
Word Count
150THE EXCHANGE Nelson Evening Mail, Volume LXIV, 24 February 1931, Page 3
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