GOLD BACKING OFFER
STERLING PAYMENT ANGLO-ARGENTINE DEALS (10 a m.) BUENOS AIRES, Sept. 25. The United Press learns that the Argentine will continue to accept blocked pounds sterling in payment of exports to Britain, but the sterling credited to it will have a gold guarantee against any possible devaluation of British currency. This solution was proposed by the British Ambassador, Sir Reginald Leeper, to the Foreign Minister, Senor Juan Bramuglia, and will be approved finally at a Cabinet meeting. It is said the idea at the back of the gold guarantee is to prevent a decline in the exchange value of the Argentine pesos if the pound sterling should be devalued.
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Bibliographic details
Gisborne Herald, Volume LXXIV, Issue 22444, 26 September 1947, Page 5
Word Count
111GOLD BACKING OFFER Gisborne Herald, Volume LXXIV, Issue 22444, 26 September 1947, Page 5
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