NEW ZEALAND POUND
Exchange Reduction Essential MUST NOT BE LONG DELAYED LONDON, March 16. The "Financial News” reviews the position regarding the New Zealand pound. It points out that the Government’s holding of surplus sterling exchange has grown in a little over a year to over £20,000,000 and is 'still growing. Clearly this cannot continue for ever The choice must lie between reducing the exchange discount or diminishing this large surplus somehow. The paper concludes: "The downward adjustment of exchange discount is the only adequate solution and it would be in the general interest that it should not be too long delayed.”
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Bibliographic details
Hawke's Bay Tribune, Volume XXIV, Issue 81, 17 March 1934, Page 9
Word Count
102NEW ZEALAND POUND Hawke's Bay Tribune, Volume XXIV, Issue 81, 17 March 1934, Page 9
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