The Archive · 1923

Franes and Sterling

Paris, Jan. 18.

The Paris-London cross-rate_ is quoted to-day at £1=Frs. 70.86}.—French Wireless through Reuter.

The closing rate last week was 8/0}d., which was unchanged on Saturday. Tle market opened at 3/0sd. on Monday and during the afternoon went to T.'L'. selling 3/03d. Following the price of forward silver, on Tuesday rates opened at 3/1d., but dropped to 3/0}d. on Thursday, on which day there was a moderate demand for ready and near cash and no cover in the shape of mercantile bills available. Yesterday morning rates went back to the 3/1d. level; in the afternoon, however, rates dropped 4d. to 3/03d. in the absence of bills. Gold T.T. is offering at"72 up to China New Year, T.T. 71} forward to June. For bills 4 m/s. L/C ster-

Text read from the printed page and cleaned; old type leaves the occasional error.

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