N.Z. EXCHANGE
WILL RATE DROP ? Mr Coates Says “No” (I’t'r Press Association). WELLINGTON, March 10. The Minister of Finance, Mr Coates, to-nighf gave a denial to persistent statements that have been in circulation in Wellington to-day to the effect that the Government proposed to alter the level of the exchange rate. lie said that no change in the current rate, either up or down, was proposed. While the export prices remain as they are, he said, there will be no reduction in the rate. There, might have been some difference of opinion as to the wisdom of raising the rate. There could be no room for a difference of opinion as to the wisdom of maintaining the rate. To permit the rate to fall would be disastrous, Mr Coates declared, and recognising this the Government would maintain the exchange rate at the present level and ample notice would be given if at a future date an alteration was intended. For the present such a possibility could be dismissed ns fantastic.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GRA19330311.2.18
Bibliographic details
Grey River Argus, 11 March 1933, Page 5
Word Count
170N.Z. EXCHANGE Grey River Argus, 11 March 1933, Page 5
Using This Item
Copyright undetermined – untraced rights owner. For advice on reproduction of material from this newspaper, please refer to the Copyright guide.
Log in