RETURN TO STERLING
JAPANESE CURRENCY NEW EXCHANGE MOVE (Reed. June 2, 9 a.m.) LONDON, June 1. Much importance is attached to the announcement that Japan is stabilising exchange transactions between the yen and the £ sterling from to-mor-row. Apparently the measure is intended to overcome Japan’s difficulties in conducting exchange transactions in the sterling areas. New Zealand. Australia. South Africa, India, and Egypt are mentioned specifically. Banking circles in London welcome the measure, which came as a surprise because Japan was not expected to take unilateral action at this stage of the war, although the lack of satisfactory exchange arrangements between the two currencies has long been an obstacle to trade generally. It is assumed that the rate of stabilisation will be the prevailing rate of 14d per yen.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GISH19410602.2.54
Bibliographic details
Gisborne Herald, Volume LXVIII, Issue 20570, 2 June 1941, Page 5
Word Count
128RETURN TO STERLING Gisborne Herald, Volume LXVIII, Issue 20570, 2 June 1941, Page 5
Using This Item
The Gisborne Herald Company is the copyright owner for the Gisborne Herald. 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 Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in