1982
THE NEW ZEALAND GAZETTE
No. 59

Exchange Rates

In terms of section 25 (2) of the Reserve Bank of New Zealand Act 1964, the Reserve Bank today released outer limits for rates of exchange to be used in transactions involving the conversion of New Zealand currency into foreign currencies and foreign currencies into New Zealand currency when delivery of the foreign currency dealt in will be effected by telegraphic transfer. The following range of rates, for the main currencies used by New Zealand traders in settling foreign exchange transactions, will remain in force until replaced by a new schedule issued by the Reserve Bank. These rates do not apply to transactions for settlement after the expiration of two business days (forward transactions) or to transactions in which instruments are purchased which do not entitle the buyer to foreign currency balances in the foreign centre until the instruments have been delivered at the foreign centre. In the latter case interest at foreign centre rates may be deducted from the telegraphic transfer rate to compensate the purchaser for his loss during the transit period.

Country and Currency Range of Rates
Australia (Dollar) 0.9211– 0.9683
Austria (Schilling) 14.2952– 15.0283
Belgium (Franc) 30.6492– 33.7500
Canada (Dollar) 1.2005– 1.2621
China (Renminbi) 5.891– 5.8757
Denmark (Kroner) 0.8597– 0.9037
Fiji (Dollar) 4.4759– 4.7055
France (Franc) 8.1721– 8.5912
Hong Kong (Dollar) 5.2454– 5.5144
India (Rupee) 868.9177–913.4767
Italy (Lira) 224.7448–236.2699
Japan (Yen) 2.2392– 2.3540
Malaysia (Ringgit) 2.1183– 2.2269
Netherlands (Guilder) 81.8263– 86.0224
New Caledonia and Tahiti (Franc) 10.0822– 10.5992
Norway (Kroner) 5.3017– 5.5736
Pakistan (Rupee) 4.4660– 4.6950
Portugal (Escudo) 50.8979– 53.5080
Singapore (Dollar) 2.2478– 2.3631
South Africa (Rand) 0.8657– 0.9101
Spain (Peseta) 67.7381– 71.2118
Sri Lanka (Rupee) 14.9772– 17.2000
Sweden (Krona) 1.7430– 1.8324
Switzerland (Franc) .4871– .5120
United Kingdom (Pound) 1.0232– 1.0756
United States of America (Dollar) 1.9292– 2.0282
West Germany (Deutschmark)

Date: 19 June 1979.
Time: 9 a.m.

A. TULLOCH,
Assistant Chief Cashier,
Reserve Bank of New Zealand, Wellington.

Exchange Rates

In terms of section 25 (2) of the Reserve Bank of New Zealand Act 1964, the Reserve Bank today released outer limits for rates of exchange to be used in transactions involving the conversion of New Zealand currency into foreign currencies and foreign currencies into New Zealand currency when delivery of the foreign currency dealt in will be effected by telegraphic transfer. The following range of rates, for the main currencies used by New Zealand traders in settling foreign exchange transactions, will remain in force until replaced by a new schedule issued by the Reserve Bank. These rates do not apply to transactions for settlement after the expiration of two business days (forward transactions) or to transactions in which instruments are purchased which do not entitle the buyer to foreign currency balances in the foreign centre until the instruments have been delivered at the foreign centre. In the latter case interest at foreign centre rates may be deducted from the telegraphic transfer rate to compensate the purchaser for his loss during the transit period.

Country and Currency Range of Rates
Australia (Dollar) 0.8790– 0.9240
Austria (Schilling) 13.3990– 14.0861
Belgium (Franc) 29.3000– 32.3000
Canada (Dollar) 1.1524– 1.2114
China (Renminbi) 5.2549– 5.5243
Denmark (Kroner) 0.8190– 0.8610
Fiji (Dollar) 4.2094– 4.4253
France (Franc) 5.0130– 5.2701
Hong Kong (Dollar) 7.7754– 8.1741
India (Rupee) 822.0316–864.1862
Italy (Lira) 213.2548–224.1907
Japan (Yen) 2.1498– 2.2601
Malaysia (Ringgit) 1.9915– 2.0936
Netherlands (Guilder) 77.0830– 81.0359
New Caledonia and Tahiti (Franc) 5.0094– 5.2663
Norway (Kroner) 9.5955– 10.0876
Pakistan (Rupee) 48.2674– 50.7426
Portugal (Escudo) 2.1439– 2.2539
Singapore (Dollar) 0.8235– 0.8658
South Africa (Rand) 64.7169– 68.0356
Spain (Peseta) 14.7215– 16.2000
Sri Lanka (Rupee) 1.6146– 1.6978
Sweden (Krona) 0.4569– 0.4803
Switzerland (Franc) 0.9801– 1.0303
United Kingdom (Pound) 1.8146– 1.9076
United States of America (Dollar)
West Germany (Deutschmark)

Date: 22 June 1979.
Time: 9 a.m.

A. TULLOCH,
Assistant Chief Cashier,
Reserve Bank of New Zealand, Wellington.

Customs Notice—Exchange Rates

NOTICE is hereby given, pursuant to the Customs Act 1966, that the following exchange rates to the New Zealand dollar relate to imported goods shipped from the country of export on and after 22 June 1979:

Australia 0.90 Dollar
Austria 13.61 Schilling
Bangladesh 15.32 Taka
Belgium 29.68 B. Franc
Brazil 25.00 Cruzeiro
Burma 6.50 Kyat
Canada 1.18 Dollar
China 1.55 Renminbi or Yuan
Denmark 5.34 Krone
Egypt 0.66 E. Pound
Fiji 0.83 F. Dollar
Finland 3.91 Markka
France 4.27 Franc
French Polynesia 78.27 FP Franc
Greece 36.62 Drachma
Hong Kong 5.09 H.K. Dollar
India 7.90 Rupee
Israel 24.84 I. Pound
Italy 834.68 Lira
Jamaica 1.73 I. Dollar
Japan 216.54 Yen
Malaysia 2.18 M. Dollar (Ringgit)
Mexico 22.49 Peso
Netherlands 2.02 Florin (Guilder)
Norway 5.09 Krone
Pakistan 9.74 Rupee
Philippines 7.22 Peso
Portugal 49.01 Escudo
Singapore 2.18 S. Dollar
South Africa 0.84 Rand
Spain 65.71 Peseta
Sri Lanka 14.94 Rupee
Sweden 4.29 Krona
Switzerland 1.64 Franc
Tonga 0.89 Pa'anga
United Kingdom 0.47 Pound
U.S.A. 1.00 Dollar
West Germany 1.84 Mark
Western Samoa 0.89 Tala

Dated at Wellington this 28th day of June 1979.

J. A. KEAN, Comptroller of Customs.