Penang Rangoon London Money Market London, June 10.
Owing to the usual half-yearly demand, clearing banks during the past week were more inclined to conserve their resources than buy bills. Consequently, the upward trend of discounts made further headway.
Furthermore, with offerings of Treasury bills to be increased next week from £ 45,000,000 to £50,000,000 operators anticipate that this week's average rate of 23/32 per cent, will be improved upon.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.