FOREIGN EXCHANGE

Press, Volume CII, Issue 30289, 15 November 1963, Page 15

FOREIGN EXCHANGE

New Unit Proposed (N.Z. Press Assn.—Copyright) NEW YORK, November 14. The United States and other leading industrial nations are considering creation of a new unit of international currency, the “New York Times” says. It would be made up of strong currencies like the dollar, the pound sterling, the German mark, the French franc, the Italian lira, the Dutch guilder, and the Swedish kroner. The unit would be the “heart" of a plan for improvement of the international monetary system that would gradually lessen the burden on the dollar. Under th* plan nations would hold part of their monetary reserves in the new currency.

They would continue to hold as much gold, or dollars and sterling, as they wished. "The international 'reserve unit’ would be a supplement, but its introduction would gradually change the way countries now settle accounts with each other,” the newspaper says.

Bishop Sends Ghost Away (N.Z. Press Assn.—Copyright) LONDON, Nov. 14. The Bishop of Exeter. Dr. Robert Mortimer, has personally conducted a secret 35-minute service to exorcise a ghost, the “Daily Express” reports. A young couple who left their farmhouse because of the ghost said last evening: “We believe it has really gone. “Since the Bishop ended the service the house has been at peace again.” The couple are a 21-year-old agricultural engineering apprentice. John Durston, and his wife, Carol.

Debt Claimed (NJ!. Press Assn.—Copyright) BEX RLEY HILLS (California), Nov. 13. The manager of the Beverly Wilshire Hotel, Mr George White, today claimed that Mrs Ngo Dinh Nhu had left without paying 1000 dollars of her hotel bill. United Press International reported.