Exchange Parity Leads To Writing Down Of Several Accounts
(S.R.I WELLINGTON. Dec. 22. The adjustments in the values of the Government’s overseas investments following the reversion of New Zealand's exchange rate to parity with sterling has meant some substantial writing down. The public account investment account lias been reduced in respect to its overseas funds to the extent of £927,500. The reserve fund account has been written clown by £523,250 and the overseas investments of the earthquake and war damage fund by £339.520, making a total reduction of £1,795,270.
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https://paperspast.natlib.govt.nz/newspapers/GISH19481223.2.52
Bibliographic details
Gisborne Herald, Volume LXXV, Issue 22827, 23 December 1948, Page 6
Word Count
89Exchange Parity Leads To Writing Down Of Several Accounts Gisborne Herald, Volume LXXV, Issue 22827, 23 December 1948, Page 6
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