CHINESE DOLLAR EXCHANGE
“GENTLEMEN’S AGREEMENT” DISCARDED (Received 29th March. 12.7 p.m.) SHANGHAI, 28th March. Foreign banks are discarding the “gentlemen’s agreement" with the Finance Minister in the Hankow Government to maintain the Chinese dollar exchange at 14d, and lowered the sterling rate to a shilling. Outside brokers quoted 10|d. The collapse is attributed to the failure of Hankow’s system of exchange control, leading to a shortage of allotments of foreign exchange required by Shanghai banker* and traders
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Nelson Evening Mail, Volume LXXI, 29 March 1938, Page 5
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77CHINESE DOLLAR EXCHANGE Nelson Evening Mail, Volume LXXI, 29 March 1938, Page 5
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