PEGGED EXCHANGE.
N.Z. POLICY DEFENDED. MEAT EXPORTS NOT PREJUDICED. (By Telegraph.—Press Association.) HASTINGS, Monday. "It would be absurd that New Zealand should 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 Meat Producers' Board, when asked at a meeting of farmers to-day to express a personal opinion on the question. While in England during the negotiations with the British Government, he added, he heard no opinions from manufacturer or others against the maintenance of the present rate. On the contrary, the general managers of two leading banks independent of the New Zealand trade told him that in their view the rate was "in the right place" and should be kgpt there. One of them said that lie did not think the rato would ever go back to normal, but he thought it would inevitably be reduced at some time in the future.
Until recently, said Mr. Duncan,, tho Argentine rate had been 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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https://paperspast.natlib.govt.nz/newspapers/AS19351008.2.106
Bibliographic details
Auckland Star, Volume LXVI, Issue 238, 8 October 1935, Page 10
Word Count
197
PEGGED EXCHANGE.
Auckland Star, Volume LXVI, Issue 238, 8 October 1935, Page 10
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