instralia's reserves
Australia’s official reserve assets are now back to where they were in July, 1972. The end-of-January total was £3945m, which is s9o4m lower than the record $4849m touched in January last year. There was a net capital outflow of about sllom last month, in stark contrast with the heavy inflows throughout the second half of 1972 which prompted the Government’s 7.5 per cent unilateral revaluation and curbs on overseas borrowings in December, 1972. With reserves now down and import spending up, the present ratio is equal to about eight months’ imports.
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Bibliographic details
Press, Volume CXIV, Issue 33463, 19 February 1974, Page 10
Word Count
93instralia's reserves Press, Volume CXIV, Issue 33463, 19 February 1974, Page 10
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Acknowledgements
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