EXCHANGE ON U.S.A
MORE HOPEFUL OUTLOOK. NEW YORK, July 15. The pound sterling, following a month's gradual improvement, has gained four cents. It has reached 4.38g, or 2c below the year's high level. The franc rose fractionally, reaching 5 1-lOc. The lira is at 4 3-lOc. Bankers attribute the rise of sterling exchange to London's higher money market, and a widespread belief that the British bank rate will be advanced. The dominant factor,is the existing optimism regarding the impending Reparation Conference. Some observers assert that the strength of the exchanges is a prediscount to the successful termination of the conference, which is likely to make a preliminary announcement of an international loan for the economic stabilisation of Germany.— (A. and N.Z.)
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19240716.2.49
Bibliographic details
Auckland Star, Volume LV, Issue 167, 16 July 1924, Page 5
Word Count
121EXCHANGE ON U.S.A Auckland Star, Volume LV, Issue 167, 16 July 1924, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.