RATES OF EXCHANGE.
INCREASED IN AUSTRALIA. United Press Assn.—Elec. Tel. Copyright. SYDNEY, June 3. Rates of exchange from Australia on New Zealand were increased today 'to the following:— Buying.—£llß 12s 6d Australia for £IOO New Zealand. Selling.—£ll9 7s 6d for £IOO New Zealand. The former tariff, which had been in force since the end of February was:—Buying, £lO4 10s; selling, £llß 17s 6d, with concessions to £lO5 for genuine trade transactions. The present New Zealand tariff of exchange with Australia is:—Buying, £IOO l’or £llß 12s Gd Australia, with concessions down to £105; selling, £IOO l’or £lO4 10s Australia. The significance of the present announcement is the abandonment of the special tariff for "genuine trade transactions" and the introduction of a single tariff based solely upon the relative value of the two currencies in terms of sterling.
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Bibliographic details
Waikato Times, Volume 109, Issue 18346, 4 June 1931, Page 7
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136RATES OF EXCHANGE. Waikato Times, Volume 109, Issue 18346, 4 June 1931, Page 7
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