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PLIGHT OF AUSTRALIANS. HIGH LONDON EXCHANGE RATE. THE ADVERSE TRADE BALANCE. (United Press Association— Copyright.) (Received This Day, 11.5 a.m.) SYDNEY, Tins DayIt is now practically impossible tor Australians to take holiday trips abroad. This amazing state of aitairs is due to the high rate of exchange on London, and the decision -oi the Commonwealth Bank to prohibit the casliin" of Commonwealth notes overseas. Difficulty has arisen by reason ot Australia’s reduced exports of primary products which are realised on in London and provide our oversea balances. These have become depleted, and .the adverse balance lias been increased by heavier imports. Moreover, a substantial increase in official rates is likely in the near future.
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Ashburton Guardian, Volume 50, Issue 124, 7 March 1930, Page 5
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117NO TRIPS HOME Ashburton Guardian, Volume 50, Issue 124, 7 March 1930, Page 5
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