STERLING COLLAPSE
RECORD LOW LEVEL
CANADIAN DOLLAR ALSO
DOWN
'(Received 20tli November, 12.5 p.m.)
LONDON, 28th November.
: Sterling opened at 3.21 - dollars to £, and dropped to 3.19V5, the lowest ever officially recorded. . : (Received ,29th November, 12.15 p.m.) NEW YORK, 28th November. Sterling toppled. to a record low price expressed in terms of the United States dollar on Monday, giving ground early in the day to 3.18 dollars to £ for London cables, the 1920 low point, later falling through that figure. Sterling had ..broken about four cents from Saturday's closing rate well before noon. Foreign exchange dealers said that London and New York were the pririeipal sellers. .■■••'. The Canadian dollar was down by 1 3-16 cents at, the start,- opening at SZVs cents in United States* funds. The weakness was attributed partly to sympathy with sterling, and also to seasonal influences. ' European gold currencies were steady, the French franc rallying 1-S to 3.91% dollars to:the franc for Paris cables.
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Bibliographic details
Evening Post, Volume CXIV, Issue 130, 29 November 1932, Page 10
Word Count
158STERLING COLLAPSE Evening Post, Volume CXIV, Issue 130, 29 November 1932, Page 10
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