CURRENCY MANIPULATORS
"GLEAN-UP "IN CHINA TRICK PLAYED ON NEWSPAPERS HONGKONG, February 12. Fraudulent speculations caused a sharp but temporary drop in the Chinese currency when a taked Finance Ministry announcement falsely stated that the Chinese currency nad been fixed at 2,000 Chinese dollars to one American dollar. The speculators responsible for the story used a Chungking date line and labelled the story as emanating from the Associated Press. They closely followed the Associated Press style, and delivered the copy to leading Chineae newspapers. Six of the latter published the story, after which the national currency dropped 25 per cent. Equilibrium was regained "several hours later, when the Associated Press exposed the story as a forgery, but the manipulators had time to effect a " clean-up."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19460213.2.65
Bibliographic details
Evening Star, Issue 25716, 13 February 1946, Page 5
Word Count
124CURRENCY MANIPULATORS Evening Star, Issue 25716, 13 February 1946, Page 5
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.