FOREIGN EXCHANGE
Reading edition
The monetary unit of Great Britain is the pound sterling, with a par value of $4.8665. The average cable quotation in New York, 1927, was $4,861. The French franc has a par of exchange of $.0392. The average cable quotation was .0477 in 1925; .0324 in 1926; .0392 in 1927. It was quoted at .039040 on September 1, 1928. The Belgian belga (5 francs) has a par of $.1391. The average cable quotation in New York, 1927, was $.1392. The Italian lira has a par of $.0526. The German reichsmark has a par of $.2382. The Spanish peseta, with a par of $.1930, was quoted at $.161245 on November 1, 1928. The average quotation for 1925 was $.1434.