FOREIGN EXCHANGE
RUMOUR DENIED
PURCHASE UNRESTRICTED
In an interview last evening, the Minister of 'Finance (the Hon. W. Nash) stated that he had been informed that rumours were being circulated to the effect that the Government has imposed restrictions on the buying of foreign exchange, Mr. Nash' said that it appeared .to be unhappily true that these rumours were being started and circulated maliciously with the object of damaging the Government and injuring the credit of the Dominion.* It was also fairly obvious that the origin of these rumours was within New Zealand; they were then cabled abroad —a sorry commentary on the lack of patriotism of some citizens. The Minister said that he desired to affirm categorically that the Government had placed no restrictions whatever on the purchase of foreign exchange, nor had it requested the trading banks to restrict such dealings. "It is clear," he added, "from the provisions of the Reserve Bank of New Zealand Act, that the Reserve Bank has nc power to refuse to sell sterling to any applicant who requires it, and the relevant provision in the Act is still in full force and effect." I
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https://paperspast.natlib.govt.nz/newspapers/EP19380906.2.75
Bibliographic details
Evening Post, Volume CXXVI, Issue 58, 6 September 1938, Page 10
Word Count
192FOREIGN EXCHANGE Evening Post, Volume CXXVI, Issue 58, 6 September 1938, Page 10
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