STEELING IMPROVES
SECOND EDITION
NEW HIGH RECORD. GOOD EFFECT ON TRADE. Received May 21, 1.10 p.m. NEW YORK, May 20. Sterling is now 4S6£ cents, a new' high record since 1014, with heavy dealings, which are attributed to buyers during the steady climb- towards par, who are now realising their profits. The buying came from several big New York banking groups and some from abroad, and was so steady that it created the impression of a prearranged plan. Dealers in exchange declare that the new stability of sterling is having a powerful influence on certain pliasess of international trade. Importers who have bills to meet on London are no longer compelled to make advance arrangements because they know the pound is being held to steady levels. The stable market has also done away with the speculative elements, which marked the foreign exchange market the past few years. —A. and N.Z. cable.
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Bibliographic details
Manawatu Standard, Volume XLV, Issue 143, 21 May 1925, Page 6
Word Count
151STEELING IMPROVES Manawatu Standard, Volume XLV, Issue 143, 21 May 1925, Page 6
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