FOREIGN EXCHANGE RATES

Timaru Herald, Volume CXXXIX, Issue 20132, 12 June 1935, Page 16

FOREIGN EXCHANGE RATES

The Bank of New South Wales. Christchurch, quoted the following rates as ruling yesterday for its sales and purchases of foreign exchanges. All rates are subject to alteration without notice: Buying Selling

TRANSVAAL GOLD OUTPUT The March figures are noteworthy because they show for the first time since January, 1933. that the volume of gold produced was larger than that of the corresponding month. The long continued reduction was due to the mining of low grade ore following the linking of South African currency with sterling but the great expansion m the development of low grade ore has resulted in greater tonnage being produced. For March, 1935, the output was 882.309 ounces, compared with 821.246 oz in February and 874,112 oz in March, 1934. The record price of £7 6/- an ounce resulted in a total value of £6.440.856 against £5,899.256 for March, 1934, when the price was £6 15 - per ounce. The output for the year 1934 was 10,486,393 oz, a decrease of 531.102 oz. Owing to the rise of the sterling price this reduced production represented an increased sum in sterling—namely, £72.364.000, compared with £68,710.000 for 1933.

London— £ N.Z. to £100 st. T.T. 124 124/10 O.D 123/10 124/8/9 Australia— £ A. to £100 N.Z r/T. 101 100/10 O.D. 101 100/10 Fiji— £ F. to £100 N.Z. T.T, 90/7/6 89 O.D 90.7/6 89 New York— Dol. to £1 N.Z. T.T. 3.983 3.941 O.D. 4.00 3.95 k Montreal— Dol. to £1 N.Z. T.T. 3.99 i 3.952 O.D. 4.003.95; France — Frcs. to £1 N.Z. T.T. 60.38 59.08 O.D. 60.68 59.13 Germany— Reichmarks to £1 N.Z. T.T. — 9.546 O.D. — 9.551 Italy— Lire to £1 N.Z, T.T. — 47.14 O.D. — 47.18 Japan— N.Z. d. to 1 yen T.T. — 17 13-16 O.D. — — India & Ceylon— N.Z. d. to rup. T.T 223 22 23-03 O.D. 221 22 21-32 Singapore— N._. d. to 1 dol. T.T. 34 9-32 35 7-32 O.D 34 5-32 35 5-32