SELLING PRESSURE
FRANC INFLUENCED. VIEWS ON DEVALUATION. BELIEVED TO BE INEVITABLE,
(United Press Association.—By Electric Telegraph.—Copyright.) Received June 15, 10.55 a.m. LONDON, Juno 14.
Despite M. Leon Blum’s declaration that lie does not intend to devalue it, the franc is still subject to recurring selling pressure. The city is adhering to the view that, while devaluation may be temporarily staved off, it is ultimately inevitable, especially as M. Blum’s labour programme must enormously raise French costs. An important effect of the franc crisis has been to accentuate the seasonal tightening of short-term interest rates. Owing to the operations ol the Exchange Equalisation Fund the Government, have been torced to pay 18s Id per cent, for Treasury bills —tno highest rate for two years.
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Bibliographic details
Manawatu Standard, Volume LVI, Issue 166, 15 June 1936, Page 7
Word Count
123SELLING PRESSURE Manawatu Standard, Volume LVI, Issue 166, 15 June 1936, Page 7
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