AUSTRALIAN EXCHANGE RATE
PROPOSAL FOR INCREASE • I P A —B.v Electric Telegraph—< Oopyriehtl SYDNEY, Ist March. It is understood that a proposal for an increase in the overseas exchange rate was recently discussed between I representatives of the banks and the | Commonwealth Ministry and it has j since been revealed that expert opinion is opposed to a change at this stage. A section of the Ministry, according to the Press, favoured an increase. The matter is at present in abeyance. The object of such a move was to help Australia in her overseas trade relations and to aid the primary industries by offsetting the effects of the fall in export prices. NOT UNDER CONSIDERATION (Received 2nd March. 10.50 a.m.) SYDNEY, This Day Sir Claude Reading, chairman of the Commonwealth Bank Board, said that the question of any variation in the Australian oversea exchange rate was not under consideration by the Commonwealth Bank, nor had it been discussed with representatives of trading banks or the Government.
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https://paperspast.natlib.govt.nz/newspapers/NEM19390302.2.72
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Nelson Evening Mail, Volume LXXII, 2 March 1939, Page 7
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165AUSTRALIAN EXCHANGE RATE Nelson Evening Mail, Volume LXXII, 2 March 1939, Page 7
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