GOLD AND DOLLAR RESERVES
FURTHER FALL LIKELY (Rec. 10.30 a.m.) LONDON, Aug. IS. The belief was currents to-day in unofficial London financial quarters That the New York report that the sterling area's gold and dollar reserves would probably fall by a further £100,000,000 sterling during the current quarter would prove substantially correct. Any continued drain at this rate would mean that the gold and dollar reserves would be entirely wiped out by June 30. Difficulties in carrying out the 25 per cent, cut in Britain's dollar import programme were believed in London to be partly responsible for the £100,000,000 sterling drop. Reuter.
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Ashburton Guardian, Volume 69, Issue 263, 19 August 1949, Page 3
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102GOLD AND DOLLAR RESERVES Ashburton Guardian, Volume 69, Issue 263, 19 August 1949, Page 3
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