Beating The Exchange Rate
Allowing tine Money To Remain in Dominion OFFERS BY ENGLISH firms ! Per Press Association. CHEISTCHUECH, Last Night. Further evidence of ftn effort on the part of overseas financial and exporting firms to compel a lowering of the exchange rate New Zealand on Loudon, or to avoid its operation, is now available.
Advice has been received in New Zealand from a prominent firm of English soft goods manufacturers that is prepared to land its merchandise in New Zealand for tho payment of only a 10 per cent, premium on the sterling price. Under this transaction, the money would be banked in the Dominion and allowed to remain here, possibly pending a reduction in the rato of exchange. Another London firm of booksellers has added the following notice to its catalogue: “For the convenience of clients we have opened an account with the Bank at Wellington, New Zealand. Purchases from this catalogue may be paid for in New Zealand currency direct to that bank.’’ In this case no premium is asked. It is stated that already some importers have taken advantage of the offer made in the soft goods trade.
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https://paperspast.natlib.govt.nz/newspapers/MT19330823.2.42
Bibliographic details
Manawatu Times, Volume LIV, Issue 7242, 23 August 1933, Page 6
Word Count
192Beating The Exchange Rate Manawatu Times, Volume LIV, Issue 7242, 23 August 1933, Page 6
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