EXCHANGE RATE.
INCREASE IN AUSTRALIA. SYDNEY, March 10. As from to-day there will be an increase in the cost of transferring money from Australia to London. The trading banks have decided to raise the premium now charged by 20s per cent., making the rate for telegraphic transfers 82s fid per £lOO. For all other usances a similar increase has been fixed; buying rates are reduced by 20s per cent.
(The telegraphic transfer rate New Zealand on London remains at 62s 6d per cent., and no clients of the banks have been advised of any advance in the selling rates, but in view of the alteration in the Australian rates referred to in the above despatch a corresponding increase in the New Zealand rate is expected. The effect of this latest alteration in the selling rate will be that the Australian merchant will be required to pay £S 2s 6d on every £lOO required to pay for imports.)
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Wairarapa Age, 11 March 1930, Page 5
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157EXCHANGE RATE. Wairarapa Age, 11 March 1930, Page 5
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