MONETARY FUND WELCOMES CHANGE IN FRANC RATE
(Rec. 10.50 a.m.) NEW YORK, October 17.
The new alignment of the franc exchange rate was a move in the right direction towards bringing French financial policies into line with the fund’s principles, said Mr Camille Gutt, managing director of the International Monetary Fund. The fund welcomed this latest evidence of the desire of the French Government to restore an orderly system of exchange rates in fulfilment of the principles agreed at Bretton Woods. Although the French Government had not proposed to the fund the fixing of a new par value which would cover all transactions, it had reiterated that its objective remained the fixing of new stable parity as soon as conditions permitted. It was the intention of the fund and France to continue consultations for this purpose.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GEST19481018.2.59
Bibliographic details
Greymouth Evening Star, 18 October 1948, Page 5
Word Count
136MONETARY FUND WELCOMES CHANGE IN FRANC RATE Greymouth Evening Star, 18 October 1948, Page 5
Using This Item
The Greymouth Evening Star Co Ltd is the copyright owner for the Greymouth Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in