Page:Indian Journal of Economics Volume 2.djvu/389

 HONGKONO prices roads in this ths following form;-- msrke sre usually quoted OPENING EXCHANGE Demaud 80 d/s. 60 dis. Monday, 4th, January, SELLING Shanghai T/T. Singapore ... ... ... T/T. Japan ... ... ... T/T. India ... ... ... Demand India ... ... ... T/T. San Franoiseo and New York ... T/T. Jv ... ... ... T/T. Marks ... ... ... T/T. Fruc ... ... ... 1915 1/9 1/9 /9 /9 78 8 o6tt Nora. 2.19 ' BUYING 4 m/a L/C. m/s. 80 d/s. Sydney an elbou 80 d/s. Ssn Franoi8oo and Newyork I m/s. Marks ... m/s. Francs ... 8 m/s Frsu ... 0 d/s. on In&a ... Silver ready Bank ot England rates The thing which strikes the onlooker who stays in this market all day, is the great infiaence upon it of the Shanghai market; when the telegrams from Shanghai come in Shanghai the rate is quotation. usually made afresh to suit the Now the rate on Shanghai--the tael rate in the above list--would seem on purely thee- retical grcunds to be very important, as adjusting Hong- koug .gald rst/e to the corresponding Shanghai rates. Theoretically it has a mint parity ($100=71.5 tsels) and it has silver import and export points. Yet the