HIGH EXCHANGE
MAINTENANCE NECESSARY. MEAT BOARD CHAIRMAN’S VIEW. (Per Press Association.) HASTINGS, October 7. “It would be absurd for New Zealand to abandon the present exchange rate while all its competitors among exporting countries maintain high exchange, as they are doing,” said Mr T. A. Duncan, chairman of the New Zealand Meat Producers’ Board, when asked at a meeting of farmers here to-day to express his personal opinion on the question. While he was in England during the negotiations with the British Government, he added, he heard no opinions from manufacturers or others against the maintenance of the present rate. On the contrary, the general managers of two leading banks independent of New Zealand trade told him that in their view the rate was “in the right place,” and should be kept there. One of them said he did not think the rate would ever go back to normal, but he thought it inevitable that it would be reduced at some time. Until recently, said Mr Duncan, the Argentine rate was appreciably higher than New Zealand’s. All New Zealand’s competitors had a high rate of exchange. “ “The present rate,” he concluded, “is not prejudicing meat exports from New Zealand.”
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Bibliographic details
Ashburton Guardian, Volume 55, Issue 305, 8 October 1935, Page 7
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199HIGH EXCHANGE Ashburton Guardian, Volume 55, Issue 305, 8 October 1935, Page 7
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