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FOR STABILITY.

POWERS' CURRENCIES.

Work of Exchange Equalisation Funds. POUND, DOLLAR AND FRANC. United Press Association.—Copyright. (Received 12 noon.) LONDON, October 12. It is officially announced that the Treasuries of Britain, France and America have agreed upon practical measures for operating their Exchange Equalisation Funds in harmony, the aim being to maintain the greatest practicable degree of stability between the pound, dollar and franc. Financial authorities point out that this is merely a logical sequel to N the earlier announcement when the franc was devalued. Its importance lies in the Government so promptly being able to arrange to carry out its promises of co-operation. Sterling remains free but any statement which carries this "gentlemen's agreement" a step further will, therefore, be hailed as an encouraging event.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/AS19361013.2.97

Bibliographic details

Auckland Star, Volume LXVII, Issue 243, 13 October 1936, Page 7

Word Count
126

FOR STABILITY. Auckland Star, Volume LXVII, Issue 243, 13 October 1936, Page 7

FOR STABILITY. Auckland Star, Volume LXVII, Issue 243, 13 October 1936, Page 7