EXCHANGE POSITION
3.15 P.M.. EDITION
STEPS TAKEN IN AUSTRALIA. SAVING TO GOVERNMENTS. (United Press Association.—By Electric Telegraph.—Copyright.) Received December 3, 1.40 p.m. MELBOURNE, Dec. 3. Arising out of a three-day meeting of tho Commonwealth Bank Board, the Commonwealth Bank has now taken control of the exchange position. This bank will announce every Friday evening its official rate for the time being. Leading trading bank officials in Sydney stated thut, though they had taken no action, they would have to adopt the rates quoted by the Commonwealth Bank. The reduction would mean a saving of approximately £1,800,000 to the Governments in meeting overseas commitments.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MS19311203.2.98
Bibliographic details
Manawatu Standard, Volume LII, Issue 3, 3 December 1931, Page 8
Word Count
103EXCHANGE POSITION Manawatu Standard, Volume LII, Issue 3, 3 December 1931, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Manawatu Standard. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.