CHINESE CURRENCY
FRAUDULENT NEWS SPECULATORS CLEAN UP (9 a.m.) HONGKONG. Feb. 12. Fraudulent speculators caused a sharp temporary drop in Chinese currency when they faked a Finance Ministry announcement and falsely stated that Chinese currency had been fixed at 2000 Chinese dollars to one American dollar. The speculators, under a Chungking dateline, labelled the story "Associated Press,” closely followed the Associated Press style, and delivered a copy to the leading Chinese newspapers, six of which published the story, after which the national currency dropped 25 percent. Equilibrium was regained several hours later when the Associated Press exposed the story as a forgery, but the manipulators bad time to effect a clean-up.
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Gisborne Herald, Volume LXXIII, Issue 21945, 13 February 1946, Page 7
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111CHINESE CURRENCY Gisborne Herald, Volume LXXIII, Issue 21945, 13 February 1946, Page 7
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