THE FRENCH FRANC
EFFORTS TO SAVE IT
(By Telegraph—Press Assn.—Copyright.)
LONDON, March 29. •The Bank of England, operating through the Exchange Equalisation Account, and thus, presumably, with Treasury approval, has thrown large funds on to the foreign exchange market in London in an attempt, which has temporarily been successful, to prevent a drastic decline in the exchange value of the franc. Francs are offered for delivery three months ahead at 80 to the pound sterling, compared with the current rate of 75 1-16. Several city editors consider devaluation nearer. (Received March 31, 10 a.m.) PARIS, March 30. The Minister of Finance, M. Regnier, emphatically denied that the Government is considering devaluation of the franc or a gold embargo, which was especially unthinkable at a time when agricultural prices are rising and favourably affecting the economic situation.
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Bibliographic details
Evening Post, Issue 77, 31 March 1936, Page 12
Word Count
136THE FRENCH FRANC Evening Post, Issue 77, 31 March 1936, Page 12
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