FRANCE’S FINANCES
FLOOD OF RETURNING CAPITAL OVERWHELMING DEMAND FOR FRANCS Pres* Association —By Telegraph—Copyright LONDON, May 7. The Paris correspondent of the ‘ Daily Telegraph ’ says that the flood of returning capital has become overwhelm, ing, and it is impossible to cope with the demand for francs, which is assuming a panicky character. Small hoarders stormed the offices of money changers, and were glad to take 177 for sovereigns and sterling notes. Tile official rate was held at 178.40 only h.v active and firm intervention on behalf of the Equalisation. Fund. ' Profit-taking checked the boom on the Bourse, but nevertheless rentes, in which most holders of foreign currencies are investing, rose further, reduc,uig the yield of national defence bonds £rojn 4 to 34 per cent.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19380509.2.114
Bibliographic details
Evening Star, Issue 22952, 9 May 1938, Page 11
Word Count
124FRANCE’S FINANCES Evening Star, Issue 22952, 9 May 1938, Page 11
Using This Item
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.