THE MONEY MARKET

New Zealand Herald, Volume LXXIV, Issue 22867, 23 October 1937, Page 7

THE MONEY MARKET

BANK OF ENGLAND RETURN DEPOSITS REMAIN STEADY LOWER NOTE CIRCULATION LONDON, Oct. 21 The Hank of England return l'or the. week ended October 20 is as follows: —• ISSUE DEPARTMENT Noles issued:— Govt, debt £ 11,000,000 In circu- Other Govt. lation £IS 1,300,000 securities 188,100,000 In bank- Other secuing dept. I'. 1 ,100,000 ritics .. 000,000 *£200,000.000 Gold coin i A bullion 320,400,000 £'•">20,100,0001 £520,100,000 •Amount of fiduciary issue. BANKING DEPARTMENT Capital . . £• I I,.">00,0001Govt, sccultest .. :t,100,000] rities £00,000,000 Deposits— Advances Public .. 20,800,0001 and other Bankers & i securities 20,700,000 other acs. 125,600,000,N0tes 42, 100,000 Gold and silver coin 1,000,000 £1 "3,000,0001 £173,000,000 Tho principal items of the above return compare as follows with those for last week, the proportion of the reserve being shown in the last line: — Deposits— Oct. 13 Oct. 20 Public .. £20,100,000 £'29,800,000 Bankers . . 02,000,000 80,300,000 Other Accounts 30,400,000 30,300,000 £ 1 K",400,000 £ 135,400,000 SecuritiesGovernment .. J OS, 100.000 09,600,000 Advances, etc. 0,300,000 0,400,000 Other . . 20,400,000 23,300,000 Reserve . . 38,200,000 43,700,000 Note circulation 480,000,000 484,300,000 Oin and bullion 328)100,000 328,000,000 f'roportion . . 24.63 28.13 » RATE OF DISCOUNT The Hank of England rate of discount is 2 per cent, to which it was reduced on June 30, 1932, from 2J per cent. CONSOLS AND DOMINION STOCKS The following table gives quotations for consols and colonial inscribed stocks, compared with those of October 14: Price Variation £ s d s <1 Consols, 2/i per cent . 71 0 O -20 0 Fund, Loan, 4, 1060-00 110 S 0 Same War Loan, 3% . . 101 12 6 +2 6 Conversion Loan, 3% . 100 5 o ~5 0 Victory Bonds, 4 . . lost 5 o .Same C'wealth, .">. 1045-75 .. 108 o 0 +2 6 C'wealth, I, 11)43-18 . . 1(12 7 6 Same C'wealth, 3%, 1018-53 . 10l 5 o +1 3 C'wealth, :i' 2 , 1056-61 . !>•_* 12 6 +2 6 C'wealth, :i, 1D55-5K . . so 15 o Same N.S.W., 4%, 1 !)3.">-l5 . 08 l."> 0 Same Victorian, :i. 1020-10 . !»4 1"> o Same Victorian, 4%. 1040-60 104 <) o +5 0 Victorian, •">, 1015-75 . 107 12 6 -2 6 Queensland, 3, 1022-47 »5 17 6 +5 o Queensland, •">, 1010-60 101 6 :i -13 S. A list., 3. 1010 or after 70 0 o + 5 0 S. Aust., 5. 3045-75 .107 8 0 -3 !) W. Aust., I, 1012-62 . lo| 10 o Same Tasmania, 3%, 1020-40 102 7 6 Same Tasmania, 4, 1010-50 . 101 17 6 -5 0 N.Z., -I'-'i, 1018-58 .. 105 o O -7 6 N.Z., 3%. loio .. 102 7 6 Same N.Z.. 3. 1045- . .. 07 17 6 +3 0 FOREIGN EXCHANGES FLUCTUATIONS IN LONDON (Received October 22, 5.5 p.m.) British Wireless RUGBY, Oct. 21 The following rates on foreign exchanges are current, compared with the cabled quotations on October 20 and par: Oct. 21 Oct. 20 Par Montreal, dol. .. 4.05% 4.05% 4.N60 New York, dol. 4.05%. 4.05% 4.86 Paris, fr. .. 14«M4a 105.00 Brussels, belga.. 20.35 20.36% 35.00 Geneva, fr. - . 21.50 21.50% 25.22 Amsterdam, gr. 8.06 8.06% 12.10 Milan, lire .. 04%# 01%* 02.00 Berlin, r.m. . . 12.32% 12.33% 20.43 Stockholm, kr... 10.30% 10.30% 18.150 Copenhagen, kr. 22.10 22.40 18.150 Oslo, kr. .. 10.00 10.00 18.150 Vienna, sch. 20% 26% 34.585 Prague, kr. 141%« 111".* 164.25 Helsingfors, mark 226% 226% 103.23 Madrid, pes. .. 551 55t 25.221 Lisbon, escu. .. 110%, 110%, lio Athens, dr. .. 547% 51714 375.00 Bucharest, lei... <172% 6.2% 813.6 Rio de Janeiro, m. 4%d' 4%d" 5.800 d Montevideo, dol. ,30'%„d* 30'y,.d* 51(1 Bombay, rupee.. 18% d 18% d 18d Shanghai, d 01... 1 l%d » 1 l%*d Hongkong, dol. 15d 15d 'Yokohama, yen lid lid 2t.sKd Batavia. gr. .. 8.04 8.03 12.10 Belgrade, din. .. 216 216 276.31 Warsaw, zloty. . 26.21 * 26.21 43.38 tNominal. 'Sellers. NEW ZEALAND QUOTATIONS The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday, on a New Zealand currency basis, subject to alteration without n&tice: — Selling: United States Canada T.T 3.07% 3.07%, On demand .. 3.07% 3.07% Buying: On demand . . 4.01% 4.01% Following are the latest rates for purchases and sales of foreign exchange quoted by the Bank of New South Wales, Auckland. They are subject to alteration without notice: — To CI N.Z. T.T. On Demand Currency Selling Buying Selling U.S.A.. del. .. 3.0701 4.0140 3.0744 Canada, dol. . . 3.0702 4.0147 3 0742 Austria, sell. . . 20.82 Belgium, belga 23.171 23.856 23.482 Czecho'vakia, cr. 112.51 Denmark, kr. . 17.803 18.203 17.500 France, fr. .. 116.43 Oerinany, r.m. . 0.837 Holland. 11. .. 7.151 7.341 7.155 Italy, lire .. 75.47 Java. n. .. 7.125 7.315 7.120 Norway, kr. .. 15.801 1 ».'_>■» I 15.807 Sweden, kr. . . I'i.lso ir>.s|( ir>.lo."> Switzerland, fr. 17.182 17.557 17.187 Noumea, fr. .. 115.18 Papeete, fr. .. 115.23 N.Z. pence to—ilongkonsr, dol. 18 53-01 18 27-64 18 53-64 India, rupee .. 22 21-32 22.11-32 22-21-32 Ceylon, rupee . 22 21-32 22 11-32 22 21-32 Japan, yen .. 17 33-04 Shanghai, dol. 18 11-04 - Singapore, dol. 3.> 13-04 34 / a 3o 13-64 Chefoo, dol. .. 18 15-04 - ~ , Manila, peso . 30 15-01 20 41-04 3010-(Jl The cost in New Zealand "currency of the pound sterling, and of the principal •overseas units, on the latest quotations, is as follows: —• Present Price Par s fl s d London, pound ... 24 10.05 20 0.00 Australia, pound .. > ! * 10.81 20 0.00 Fiji, pound . . . 22 5.06 20 0.00 New York, dollar .. 5 0.25 4 1.31 Montreal, dollar .. 5 0.27 4 1.31 Paris, franc . .. 0 2.04 0 2.28 Berlin, reichsninrk . 2 0.21 011 Copenhagen, krone ■ 1 1.33 1 Yokohama yen . . 1 5.41 2 o..>fc> CUSTOMS EXCHANGE RATES Filially declared rates of exchange ruling at the date of departure of vessels named arc shown in the following table: Austrailnd, America, dollars .. .. ']£•} Australiud, Canada, dollars .. .. City of Manila, America, dollars .. 416 City of Manila, Canada, dollars . . 4.00