B—l6

APPENDICES APPENDIX No. I—EXCHANGE BATES

The following table shows the changes that were made in the trading banks' quotations for various currencies as a result of devaluation in September, 1949 (rates are those for telegraphic transfers) :

Quotations for sterling and other currencies on 31st March, 1950, were— New Zealand on London* (On the basis of £(stg.)100) Buying. Selling. Telegraphic transfers .. .. £(N.Z.)IOO 7 6 £(N.Z.)IOI 0 0 „ ~ Air Mail Air Mail.f Sea Mail. and Sea MaiL On demand .. £(N.Z.)IOO ,0 9 £(N.Z.)99 16 9 £(N.Z.)IOI 0 0 3 days' sight .. „ 100 0 0 „ 99 16 0 No quotation. 30 days' sight .. „ 99 17 3 „ 99 13 3 £(N.Z.)IOO 19 3 60 days' sight .. „ 99 14 0 „ 99 10 0 „ 100 18 6 90 days' sight .. „ 99 10 9 ~ 99 6 9 ~ 100 17 6 120 days' sight .. „ 99 7 6 „ 99 3 6 No quotation. Sterling notes .. .. .. £(N.Z.)9B 1 9 £(N.Z.)IOI 0 0 London* on New Zealand (On the basis of £(stg.)100) Buying. Selling. Telegraphic transfers .. £(N.Z.)IOI 0 0 £(N.Z.)IOO 7 6 Air Mailt Sea Mail. Mail. On demand .. £(N.Z.)IOI 8 6 £(N.Z.)IOI 17 6 £(N.Z.)IOO 7 6 30 days' sight .. „ 101 15 3 „ 102 4 3 No quotation. 60 days' sight .. „ 102 2 0 „ 102 110 „ 90 days' sight .. „ 102 8 9 „ 102 17 9 120 days' sight .. „ 102 15 6 „ 103 4 6 * These rates apply to all parts of the British Isles, f Customer pays air-mail postage. 2—B 16

17

New Zealand on Pre-devaluation. As at 31/3/50. Buying. Selling. Buying. Selling. United States of America (dollars per £(N.Z.)) Canada (dollars per £(N.Z.)) .. France (francs per £(N.Z.) ) .. Belgium (francs per £(N.Z.)).. Switzerland (francs per £(N.Z.)) Pakistan (N.Z. pence per rupee) 4-0295 4-0295 1,105-27 177-94 17-36 171 3-9696 3-9696 1,078-61 173-29 17-01 18| 2-7991 3-0802 987-82 141-05 1.2-25 251 2-7586 3-0333 963-28 137-35 12-00 26e|