Page 107 - 5 Persian Trade rep BUSHIRE I_Neat

BUSHIER. 7

hand, 500,OOOf. docs not fairly represent wliat the export trade
should be, were the various lines of produce thoroughly worked,
especially since tragacanth gum and other produce has been taken
up in large quantities on the European market.
According to customs and shipping returns the percentage of
the total trade enjoyed by the United Kingdom has been during :—
Per Cent.
1901 55
1902 63
1903 49
1904 55
1905 59
1906- 07 G2
1907- 08 77

Exchanjc.—The average rate of exchange for demand drafts
of the Imperial Bank of Persia for the year was 51 *25 krans per If.
and 343*20 krans per 100 rs., a lower average rate than has
been experienced for more than 10 years, as the following figures
will show:—
P-r '
Per 11.
100 Ri.
Rrans. Kwiw.
1S97-93 54-25 345 -75
1893-99 54 -13 352 -31
1899- 1900 ... 53- 83 358 -3!
1900- 01 52 -82 352 -87
1901- 02 54- 36 302 -56
1902- 03 • •• 57 -51 387-19
1903- 04 • •• 57-25 379-62
1904- 05 GO-20 402-62
1905- 06 GO-12 400-59
1906- 07 55- 50 374 -45
1907- 08 • •• 51-25 343 -18

Starting at 53J krans per If. rates weakened to 50} krans in
May, recovered temporarily in June to 54 J krans, and then feD
steadily to 43 krans in September. By March, 1008, they had
risen to 52 J krans. No record is available of the rates prevailing
in the bazaar, but they are generally considerably lower than the
bank’s rates, and indeed touched 4G krans and under for coin, when
it became absolutely necessary for the purchase of produce during
the summer months. When it is remembered that in the space of
20 months there had been a drop from 60 to 48 krans per If. there
would appear to have been some special reasons for the temporary
appreciation of the kran. As given by those best able to judge,
these are :—(i) The anxiety of the Persian Government 'o procure
funds; (ii)thc abnormally high price of silver ; and (in) the demand
for coin for the purchase of produce during the harvest season.
Cash was plentiful at Bus hire during the early part of tlie year.
and the scarcity of money from August to October has been already
alluded to. The hindrance to the trade between Bus hire and Shirax
(468) ▲ 4