China’s Money Crisis Worsens
SHANGHAI, June 26
Chinese currency depreciated today to a new record low level of 53,000 Chinese dollars to one American dollar. It is reported that the Government will soon revise its unrealistic official rate of 12,000 to one. r Commodity prices are skyrocketing. The black market price of rice opened to-day at 510,000 Chinese dollars* Per picul (one-third of a pound). The sugar price doubled, and a sharp increase was registered for most other foodstuffs.
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Grey River Argus, 28 June 1947, Page 5
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79China’s Money Crisis Worsens Grey River Argus, 28 June 1947, Page 5
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