SARK FURTHER SLUMPS
RUSH FUR FOREIGN CUBREIKSY.
EXICHSBAKK'S ATTITUDE
Press Association—By Telegraph—Copyright.
BERLIN, July 19. (Received July 20, pt 10.40 p.m.)
The mark has slumped to 1,450,000 to the pound —a record. Tho Germans on the Bourse made frantic efforts to buy foreign currency from the banks, presenting demands aggregating 20,000 milliards of marks, which is equal to about £14,000,000 at yesterday’s rate of exchange. The directors of tho Rcichsbasik described the demands as shameful, since they represented more than tho whole monetary reserves in tho Berlin banks. If such a demand was repeated, tho Roichsbank would refuse to discount the purchasers of foreign currencies, and thus make it impossible to buy sterling or dollars. Tho Reichsbank finally granted a quarter of 1 per cent, on the day’s demands for foreign currencies.—A. and N.Z. Cable.
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Bibliographic details
Evening Star, Issue 18333, 21 July 1923, Page 4
Word Count
135SARK FURTHER SLUMPS Evening Star, Issue 18333, 21 July 1923, Page 4
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