STERLING ABOVE PAR
FIRST TIME FOR TEN YEARS EFFECTS WORLD WIDE. (Australian and N.Z, Cable Association.) I ♦. I ■ ’ ■ NEW YORK, May 20. Sterling is quoted at lour hundred and eighty-six and one-eighth, the highest since 1914, with heavy dealings, which are • attributed to the buyers during the steadj r climb towards par, who are new realising profits. The buying came from several big New Yoric banking groups and some from abroad and was so steady, Liat it created the impression of a pre-arranged-plan. Dealers in exchange declare that Die new stability of sterling is having a powerful influence on certain phases of international trade. Importers who have bills to meet on London are no longer compelled to make advance arrangements, because they *know that the pound is being held to steady levels. The stable market has also done away with the speculative elements which have marked the foreign exchange market during the past few years-
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Greymouth Evening Star, 21 May 1925, Page 5
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155STERLING ABOVE PAR Greymouth Evening Star, 21 May 1925, Page 5
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