The Archive · 1938

Merchants Closing Rates

SELLING pume November 4 m/s. Lo. 15} 4 m/s. 60 45% 7 d/s. 46% nan SILVER

READY FoR'D

London pence per std. oz.

Wh 19% N.Y. cents per oz, troy Bombay Rs. per 100 tolas 51.07 Bombay offtake 15 bars.

London silver was yx up both ready and forward, being 20% for ready and 19% forward. New York was unchanged at 49% and Bombay 1 anna up at 51.07, It was reported there was a little American trade, buying. Business was small. Market ruled steady. After the official fixing quietly steady conditions prevailed.

The local exchange market opened with sellers to merchants at 8% sterling and 15% USS.

The. Interbank market opened steady with sellers at 8% sterling and 1544 U.S$ and very little interest being shown, but late in the morning there were keen buyers of sterling and purchases were made of November at successively declining rates until the close when business was done at 8f: sterling and 15% U.S.$. Though there were still possible buyers of sterling at the rates there were sellers at the close nominally at:—

15% USS Nov. 15% Dec, Jan.

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

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