PEG EXCHANGE?
America May Be Forced Into
Action.
DEVALUATION OF DOLLAR.
(Received 1.30 p.m.)
NEW YORK, April 28,
International banking circles have been giving serious consideration to the possibility that an equalisation fund might have to be established soon to maintain the stability of the United States dollar in foreign exchange markets.
This conclusion is predicted on the assumption that the dollar will not immediately be devalued, if at all.
Devaluation, it is stated, would have the effect of pegging the United States currency, probably obviating the necessity of 'adopting any other measures.
However, if the dollar is not pegged, it is likely that some sort of fund might be established to buy and sell foreign exchange in order to protect the dollar from wild gyrations, which would be disturbing to business, in the opinion of certain authorities here.
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https://paperspast.natlib.govt.nz/newspapers/AS19330429.2.64.3
Bibliographic details
Auckland Star, Volume LXIV, Issue 99, 29 April 1933, Page 9
Word Count
139PEG EXCHANGE? Auckland Star, Volume LXIV, Issue 99, 29 April 1933, Page 9
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