EXCHANGE RATES.
DISCUSSION IN AUSTRALIA
/United Prssa Association—Copyright) MELBOURNE, September 13.
The substantial rise in wool values this week, which is accompanied by forecasts of further enhancement, is causing consideration to be given to the question whether Australian exchange on London will bo maintained at the existing high level. It is computed that with wool at the prices established at the Sydney sales £12,000,000 will be added to the value of the present clip, even when allowance is made for lower production. It is not certain that bankers here will be willing to pay £125 for £I.OO in London if prices of wheat and other exports also advance. Fixation of exchance is in the hands of the Commonwealth Bank. It made no alteration at the meeting of the board this week, but the matter is being freely discussed'in commercial circles.
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Bibliographic details
Ashburton Guardian, Volume 53, Issue 287, 15 September 1933, Page 8
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140EXCHANGE RATES. Ashburton Guardian, Volume 53, Issue 287, 15 September 1933, Page 8
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