DEALINGS IN CURRENCY
Controls Eased Bv Britain
(K- 2 . Press Association-Copyright)
(Rec. 7.10 P.m.) LONDON, December 15. The Bank of England announced to-dav that the London foreign exchange market will be fully reobened for dealing in both spot arid forward currencies, for the first time since the wan
The main effect Of the change Will be that change controls will femdin, betntltled place through the market instead of the Bank of England! The dollar-sterling exchange rate remains at 2sn i and the price of gofd at 250 s a fine ounce to the The Bank Of England will stop quoting official fates for forward exchange and Will allow a wider “spread” ott either side in spot exchange. The present spread is 1 ntr cent nn either * e r * flargin wi » n6t * announced before next Monday. Commercial banks will h» able to deal in forward exchange at market rates.
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Bibliographic details
Press, Volume LXXXVII, Issue 26606, 17 December 1951, Page 7
Word Count
148DEALINGS IN CURRENCY Press, Volume LXXXVII, Issue 26606, 17 December 1951, Page 7
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