FOREIGN EXCHANGE.
THE NEW YORK MARKET. ADVANCE OF STERLING. New York, Oct. 31. The sterling reached 452| cents, showing a gain in excess of two and ahalf cents, in the last three days. The Conservative victory in England is held to be largely responsible for this, confidence being felt in financial circles and expectations of a trade revival throughout the British Empire. The demand for sterling from large banks was. heavy and more than offset the good sized volume of sterling commercial bills offered in exchange for dollars. Other European currency was firm, the general tone of the market being helped by the sterling’s action. Canadian dollars were offered at a slight premium.—(A. and N.Z.)
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Bibliographic details
Hawke's Bay Tribune, Volume XIV, Issue 277, 3 November 1924, Page 3
Word Count
115FOREIGN EXCHANGE. Hawke's Bay Tribune, Volume XIV, Issue 277, 3 November 1924, Page 3
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