STERLING AND DOLLAR
(By Telegraph.—Press Assn.—Copyright.) (Received January 21, 9 a.m.) LONDON, January' 20. Sterling exchange. London on New York, 4.94 11-16 dollars. \ . Dollar.?. January 18 fig}Hl January 17 4.95 11-16 January 16 4.96 January 15 4.96 5-16 January 14 4.96 1-8^ January 13 4.97 7-16 January 11 4:95 7-8 fi January 10 4.94 7-16 January 9 4.9313-16 January 8 « 4.93 5-16 January 7 .'. 4.92 3-16 January 6 4.9215-16 January 4 4.92 7-8 January 3 4.9213-16 January 2 , 4.9215-16 January 1 4.92 7r8 September 2, 1935 .... 4.9515-16 The United States dollar is now well on the way to recovery from the weakness which set in in Europe following the announcement of the decision of the United States Supreme Court in which the programme of the Agricultural Adjustment Administration was declared illegal. It was evidently considered in Europe that, to replace the A.A.A. programme, President Roosevelt would make payments to farmers by an increase of currency, involving Inflation of the dollar. Consequently widespread selling of dollars in Europe followed the Court's verdict, and the price fell from a fraction over 4.92 dollars to the £ sterling to 4.9? 7-16 (orr January 13). The subsequent strengthening is indicated above.
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Bibliographic details
Evening Post, Volume CXXI, Issue 17, 21 January 1936, Page 12
Word Count
196STERLING AND DOLLAR Evening Post, Volume CXXI, Issue 17, 21 January 1936, Page 12
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