GOLD DEFAULT
EFFECT ON EXCHANGE , DOLLAR SLUMPS TN LONDON. OTHERS MAY FOLLOW E.S. LEAP. (United Press Association —By Electric Telegraph —Copyright.) (Received 9 a.in.) LONDON, June S. The “Daily Telegraph’’ comments on the fact that the dollar exchange rate reached -1.07 yesterday. The dollar, it says, has never been worth so little in London since Britain left the gold standard. Yesterday’s rates represent a fall of 60 cents since America abandoned the gold. The latest decline is attributed to speculators selling, particularly from New York. There is also an impression in the market that official operations in America are forcing the sterling rate up. The editor of the “Daily Express’’ says it is not improbable that, if the dollar depreciates further, Switzerland will abandon the gold standard next week and France will follow.
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Bibliographic details
Northern Advocate, 9 June 1933, Page 5
Word Count
133GOLD DEFAULT Northern Advocate, 9 June 1933, Page 5
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