FALL OF STERLING.
CHECKED IN LONDON. LONDON, March 5. The Daily Telegraph says that after Wild fluctuations in the morning the fall of the pound was arrested this afternoon. It is generally understood that .it was a natural recovery unassisted by controls. It is believed in the city that the sharp movements are ending. The extent of the withdrawal of foreign-owned sterling balances is believed to have been considerable. The total transferred is estimated at little abort of £70,000,000. THE GOLD STANDARD. ADHERENCE BY FRANCE. Received March 6, 9.25 a.m. PARIS, Maroh 5. M. Germain Martin (Finance Minister) states that France will remain on the gold standard. He emphatically denies a report that the Government ie studying a plan for devaluation. PRICE OF GOLD. RATES OF EXCHANGE. Received March 6, 11.30 a.m. LONDON, March 5. The price of gold is now £7 7s 10fd. The dollar rate of exchange (New York-London) is now 4.76| and the franc on Paris 71 5-16.
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Bibliographic details
Manawatu Standard, Volume LV, Issue 83, 6 March 1935, Page 7
Word Count
161FALL OF STERLING. Manawatu Standard, Volume LV, Issue 83, 6 March 1935, Page 7
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