Brooks' Foreign Exchange Text Book; An Elementary Treatise on Foreign Exchange and the Monetary Systems of the World, for the Instruction and Use of the Banker, Exporter, Importer, Tourist and Particlarly for the Scholar and Student ... (Paperback)

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ... fractional quotations plus or minus fractions of 1 per cent, by supplying conversion tables for francs the equivalent of $1.00 by eighths of a centime. For example: Instead of jumping from francs 5.15 to francs 5.15f, which would be the next lower quotation under present system, the tables in his book are for francs 5.15, 5.15J, 5.151, 5.15f, 5.15a and then 5.15f, and the same method is used in quoting the other rates for French, Belgian, Swiss and Italian exchange. This plan practically serves the same purpose as the use of the plus and minus fractions, avoids complication in figuring, and no doubt will be generally adopted in the near future. The following are samples of quotations for exchange on the principal countries: English Exchange: $4,871 per, meaning $4.87375 per pound Sterling. French Exchange: (large cities) francs 5.161 or francs 5.161--1-32, meaning that 5 francs 161 centimes will be allowed for each $1.00 United States money. Where the fraction-1-32 is used, a deduction of 1-32 of 1% of the amount in United States money (after figuring at rate francs 5.161) will be allowed. French Exchange: (small places) 19.25 cents per franc, which means that each franc will cost you 19 and 25 hundredths eents, United States money. Belgian and Swiss Exchange: is quoted same as French exchange. German Exchange: (large cities) 95 3-16 cents per 4 marks, meaning that for each 4 marks you would be charged 95 and 3-16 cents, which expressed decimally would be.951875. If you divide these figures by four the result will be the price per single mark, or. 23796+. The fractions plus and minus 1-16, 1-32, 1-64, etc., are used with German exchange quotations per 4 marks as in the case of French exchange. German Exchange: (small places) 23.80...