The Archive · 1938

BAR SILVER

London pence per std. oz.

N.Y. cents per oz. troy Bombay Rs. per 100 tolas 510 Bombay offtake 25 bars.

London silver was % down both ready and forward, being 19/, for ready and 195, forward, New York was unchanged at 42% and Bombay was 3 annas down at 51.00.

it was reported the continental sold. "India was a small buyer at the decline, Market steady. After the official' fixing the marka, remained quietly steady with a little Indian inquiry.

The local exchange market opened with sellers to merchants at 8% sterling and 17% U.S§.

The Inter-bank market was very active and heavy buying brought rates down sharply, Though there Were nominal sellers at the opening 9t 84} sterling and 18% U.S.$. no business was done at those rates, and buyers predominated from the outset, after declining to 819 sterling and 18% U.Sj$. there was a slight recovery, bub during the afternoon there was further wénkness and at the close there were only doubtful sellers ati—

811 sterling 17% U.S$, July 8j, sterling 17% U.S$. August 8% sterling 17% U.S$. September

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

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