Advertisement “Not Official”
(N.Z. Press Association) WELLINGTON, June 14. A financial advertisement in an American magazine that the New Zealand £ had slumped from an official rate of 2 dollars 80 cents to two dollars 60 cents was for New Zealand notes illegally exported from New Zealand and not eligible for registration through official channels, the Minister of Finance (Mr Lake) said in Parliament today. “These notes naturally sell at a discount because of their restricted market,” he said. Mr N. V. Douglas (Opp., Auckland Central) had said the rate quoted in the advertisement represented virtual devaluation of the £ by 7 per cent. He asked what Mr Lake was doing about It.
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Bibliographic details
Press, Volume CVI, Issue 31086, 15 June 1966, Page 3
Word Count
111Advertisement “Not Official” Press, Volume CVI, Issue 31086, 15 June 1966, Page 3
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Acknowledgements
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