STERLING EXCHANGE
NO DIFFICULTY BY IMPORTERS INQUIRIES IN WELLINGTON lUnilerl Press Apsoeialicn ■ WELLINGTON, This Day. Although there is a general impression that some firms are experiencing difficulty in obtaining the necessary sterling exchange to pay for imports tor which licenses have been granted, fairly extensive inquiries during the past two or three days have failed to disclose one actual case of a merchant who has personal experience of being refused sterling accommodation. Even organisations in touch with all sections of the business community could not quote one concrete example. An importer operating on an extensive scale said his company had no difficulty in obtaining exchange for all reasonable requirements. However, in the case of a request to the banks to negotiate a three months draft on India. which would not normally be met until about November, the bank had replied that in the present circumstances ;t could not look so far ahead but would negotiate the draft if it could be made a sight draft. This the company had decided to do and the transaction had accordingly been put through.
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https://paperspast.natlib.govt.nz/newspapers/NEM19390614.2.136
Bibliographic details
Nelson Evening Mail, Volume LXXIII, 14 June 1939, Page 8
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180STERLING EXCHANGE Nelson Evening Mail, Volume LXXIII, 14 June 1939, Page 8
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