HIGH EXCHANGE
‘Financial News’ Warns New Zealand POSITION CANNOT LAST Reduction “Only Adequate Solution” BIG SURPLUS BUILT UP By Telegraph.—Press Assn.—Copyright. ('Received March. 16, 9.25 p.m.) London, March 16. Tho “Financial News” reviews the position regarding the New Zealand pound. It points out that the Government’s holding of surplus sterling exchange lias grown in a little over a year to over £20,000,000, and is still growing. Clearly this cannot continue for ever.
The choice must lie between reducing the exchange discount or diminishing this large surplus somehow. The paper concludes that a downward adjustment of the exchange discount is the only adequate solution, and that it would be in the general interest that it should not be too long delayed.
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https://paperspast.natlib.govt.nz/newspapers/DOM19340317.2.38
Bibliographic details
Dominion, Volume 27, Issue 146, 17 March 1934, Page 7
Word Count
120HIGH EXCHANGE Dominion, Volume 27, Issue 146, 17 March 1934, Page 7
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