A DENIAL GIVEN
REGARDING N.Z. EXCHANGE RATE
(Per Press' Association Copyright) WELLINGTON, March 10. The Minister of Finance, Mi’ Coates, to-night gave a denial to persistent statements that havebeen in. circulation' in Wellington to-day to the effect that the Government proposed to alter the level' of the exchange rate., • He 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 niight. 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 fthe 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 as fantastic.
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Bibliographic details
Hokitika Guardian, 11 March 1933, Page 5
Word Count
167A DENIAL GIVEN Hokitika Guardian, 11 March 1933, Page 5
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