THE EXCHANGE RATE.
NEW ZEALAND ON LONDON.
NO HINT OF A CHANGE,
BANKS MEETING REQUIREMENTS
The abandonment of the exchange credits pool has brought no variation in the exchange rates, and inquiries in Auckland yesterday revealed support for the opinion expressed by the Prime Minister, (ho lit. Hon. 0. W. Forbes, that no immediate change on the rate New Zealand on London was likely.
A prevalent view is that no material change may be made until tho results of tho deliberations at the Ottawa Conference are known. Meanwhile, it is reported that the banks are meeting all trade requirements Apprehension regarding the uncertainty of the exchange position was reflected in tho busy period experienced by the banks on Thursday. Apparently in anticipation of a rise, there were many applicants desirous of getting funds to London. Following aro the current rates, New Zealand on London : Buyins. Sellinc. £ad £ s d Telegraphic transfers On demand . . . . 108 10 0 109 10 0 30 days . . • • 108 9 300 b «i (1o days . . . . 107 17 C 109 2 G 90 days . . .. 107 11 3 ]OB 18 9 120 days . . . . 107 5 0
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https://paperspast.natlib.govt.nz/newspapers/NZH19320702.2.134
Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21224, 2 July 1932, Page 11
Word Count
187THE EXCHANGE RATE. New Zealand Herald, Volume LXIX, Issue 21224, 2 July 1932, Page 11
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