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BRITISH FUNDS INCREASED LONDON, July S. By piecing together different items of evidence financial' commentators put the total of Britain's exchange reserves at 2,000 million dollars, or about £stgsoo million. Reports of a possible American loan or a "grant-in-aid" to Britain, amounting to thousands of millions of dollars, have f-jcussed considerable attention on the country's external indebtedness problem. The main factor in the building up of the exchange reserves has been spending by American troops in the sterling area. This source of dollar income, however, is now rapidly shrinking, and though the exchange reserves are much bigger than is generally believed, the obverse of the picture is the increase in Britain's external liabilities. These now exceed £stg3,ooo million and are expected to reach £4,000 million before the end of the war against Japan.

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Bibliographic details

EXCHANGE RESERVES, Auckland Star, Volume LXXVI, Issue 168, 18 July 1945

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EXCHANGE RESERVES Auckland Star, Volume LXXVI, Issue 168, 18 July 1945

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