EXCHANGE CONTROL RELAXATION
LIMITS OF DECISION EXPLAINED
(New Zealand Press Association) WELLINGTON, August 31. The ending of the exchange allocation system for imports as from January 1, 1955, will not involve any alteration in the exchange control requirements for remittance purposes other than to pay for imports. This explanation was giyen by the Reserve Bank today because a number of persons have gained the impression that exchange control on travellers’ remittances and other transactions that are not in payment foe imports will also be ended simultane-
ously with the import allocation system. However, as stated by the Minister of Finance (Mr Holland) in the Budget, and by the Reserve Bank in its announcement on July 26 about the administrative arrangements, only import remittances are affected by the relaxation.
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Bibliographic details
Press, Volume XC, Issue 27443, 1 September 1954, Page 12
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128EXCHANGE CONTROL RELAXATION Press, Volume XC, Issue 27443, 1 September 1954, Page 12
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