That the rise in the British sterling, compared with the American dollar, was due to a great extent to the decline in the value of the dollar was an opinion advanced by a leading New Zealand economist to a member of the Christchurch Times. He said that the spectacular rise of sterling was due to the exchange rates operating between London and New York. Factors operating were an influx of foreign capital for investment in London and the probability that American investors, becoming apprehensive concerning the dollar's stability, were withdrawing their money from America, thus causing a falling market.
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Bibliographic details
King Country Chronicle, Volume XXVI, Issue 3445, 19 March 1932, Page 3
Word Count
99Page 3 Advertisements Column 2 King Country Chronicle, Volume XXVI, Issue 3445, 19 March 1932, Page 3
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