INDEPENDENT ACTION
United' Press Association—By Electric Telegraph—Copyright. ■■■'- LONDON, 16th June. ■ The "Sun" representative says that he has been informed that certain quarters in London consider it certain that the Bank of New South. Wales will
tako independent action to raise the ■ exchange rate directly the New Zealand exchange pool is dissolved.
This, he says, might compel other banks to follow. It.is thought likely that normal forces will quickly lead to a reaction,, even though the market conditions do not justify a higher rate than is quoted at present. Representations are being made to Mr. Forbes to take further. Government action to prevent a riso in the exchange rate before the Ottawa Conference.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19320617.2.74.2
Bibliographic details
Evening Post, Volume CXIII, Issue 142, 17 June 1932, Page 8
Word Count
112INDEPENDENT ACTION Evening Post, Volume CXIII, Issue 142, 17 June 1932, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.