ISRAELI ISSUES OWN CURRENCY ON INDEPENDENT BASIS
(Rec. 2 p.m.) TEL AVIV, Aug. 16. The Israeli Government passed legislation making the Israeli pound legal tender, effective tomorrow. The Israeli pound will be issued through the Anglo-Palestine Bank, in exchange for each old Palestine pound, and will be based on sterling with a dollar rate of exchange the same as for sterling. . The Finance Minister, Mr Ehezei Kaplan, said the new legislation would establish monetary independence, as it was impossible that an independent State should leave its currency control in the hands of a foreign Government. Mr Kaplan emphasised that there was nothing antagonistic to the sterling area or British interests. All the Jews who were interned in the British zone of Germany alter trying to get to Palestine from France in the ship President Warfield (renamed the Exodus) in 1947 have reached Palestine in driblets, said the organiser of this unofficial migration.
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Greymouth Evening Star, 17 August 1948, Page 6
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152ISRAELI ISSUES OWN CURRENCY ON INDEPENDENT BASIS Greymouth Evening Star, 17 August 1948, Page 6
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