£ 100,000,000 Drop In Sterling Reserves Predicted
'(33.30 a.m.) LONDON, Aug. 18. The belief was current today in* unofficial London financial quarters that a New York report if that the sterling area’s gold and If. dollar reserves would probably fall by a further £100,000.000 P during the current quarter would &•' prove substantially correct. Any continued drain at this rate would mean that the gold and dollar reserves would be entirely wiped out by June 30,1950. Difficulties in carrying out the 25 per cent cut in Britain’s dollar . import programme were believed I: in London to be partly responj|; sible for the £100,000,000 drop.
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Gisborne Herald, Volume LXXVI, Issue 23028, 19 August 1949, Page 5
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102£ 100,000,000 Drop In Sterling Reserves Predicted Gisborne Herald, Volume LXXVI, Issue 23028, 19 August 1949, Page 5
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