RATES OF EXCHANGE

Poverty Bay Herald, Volume LV, Issue 17173, 1 February 1930, Page 5

RATES OF EXCHANGE

ALTERATIONS ANNOUNCED OVERDRAFT RATE INCREASED (Per Press Association.) WELLINGTON, this day. Tho chairman of the Associated Bans . advises that the billowing rates of ox.change, London on New Zealand, came into, operation as from yesterday; Selling; On demand. 47s 5d per cent, discount; telegraphic transfers, 40s pel cent, discount. Buying: On demand, 70s per cent, discount; 30 days, 81s 3d per rer.t.; 60 days, 92s 7d‘ per cent. ; SO days, 103 s 9d per cent. The chairman of the Associated B; nks announces that on nnd after February l the following rates of will be paid by the banks on fixed deposits; For nnv rieriod between three and 12 months, 3J per cent. ; for any period between 12 and 24 mouths, 41 per c.-nt.; for 24 months, 5 per cent. ; and the minimum overdraft- rate will be increased to 7 per cent. The interest rates on fixed deposits have thus been increased. ( jjjloci. Tel. OfipyriErht —United Ptprs Asrii.) (Received Feb. 1. 10 a.m.) LONDON, Jan. 31. Commencing from January 31 the Associated Australasian Banks’ exchange rates on New Zealand will he the same as the Australian. SYDNEY, Jan. 31. The Associated Banks’ exchange rates from London are the selling rates on Australian drafts. Mail transfers will be at 47s 6d per cent, discount, and cable transfers at 40s discount. The rates of purchasing document arv hills on Australia at sight will be 70s per cent, discount, for 30 days 81s 3d, for 60 days 92s 6d, and for 90 days 103 s 9d.