FRANC DEVALUATION
ASSEMBLY PASSES BILL AID TO FRENCH EXPORTS LONDON, December 27. After ratifying the Bretton Woods agreement, the French Assembly passed the Bill for devaluation of the franc by 506 to: 44 votes. The measure empowers the Government to revalue the Bank of France gold stock on the basis of the new gold content of the paper franc. The devaluation of the franc should stimulate French exports to Britain and make them cheaper in terms of the British currency, says the ‘ Daily Telegraph.’ The importation of wines, for example; shquld be easier to arrange. Recent negotiations for substantial , shipments were badly hampered by the high prices asked by the French sellers. •
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Evening Star, Issue 25677, 28 December 1945, Page 5
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112FRANC DEVALUATION Evening Star, Issue 25677, 28 December 1945, Page 5
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