RATE OF EXCHANGE.

Auckland Star, Volume LXI, Issue 173, 24 July 1930, Page 23

RATE OF EXCHANGE.

CONDITIONS lr AUSTRALIA.

IS NEW ZEALAND AFFECTED ?

INVESTIGATION" URGED.

| (By Telegraph— Own Correspondent.) . WELLINGTON, Wednesday. An investigation of the question -whether the New Zealand rate of exchange Avas affected by Australian conditions was urged in a resolution submitted to the Wellington Chamber of > Commerce last evening. It was decided that a deputation wait upon the chairman of the associated banks. The importers' and exporters' committees reported that at present imports had an extraordinarily high rate, and exports had the benefit of a low rate. While the Dominion as one entity was not affected by this disparity, it was . felt that more information might, usefully, be made available in regard to the position, especially in its relation to individual trades. The trading position of the Dominion at present, having due regard to unshipped stock? of wool, butter, etc., it was stated, was not an unsatisfactory one, and some traders had the impression "that the Australian financial situation and accumulated adverse trade" balances had an influence upon the rates now ruling in. New Zealand.' An inquiry into those matters, it was felt, would furnish data of'interest to importers and exporters in New Zealand.