UNSETTLED MONEY MARKET
FALL OF FRENCH EXCHANGE. SOVEREIGN AT A PREMIUM. Australian and N.Z. Cable Association. (Reed. 1 a.m.) PARIS, Sept. 38. The value of the franc continues to fall. The. British sovereign is quoted at 37.30 francs, representing a premium of 48 per cent., and the American dollar at 8.93 francs, representing a premium of 70 per cent. AID FROM AMERICA. FIFTY YEARS' CREDIT URGED. A. and N.Z. LONDON, Sept. 18. The Paris correspondent of the Morning Post reports that the French newspapers express consternation at the sudden fall in the French exchange, and express the opinion that the only solution is for America to open a 50 years' credit of 000,000, hearing interest at 4.1 per cent., leaving France, free to utilise her credit to buy in any market she pleases. This would make dollars plentiful and end the present competition between merchants, which is. causing the soaring prices of the dollar and the sovereign. Big rises were often due to transactions which would have been normal prior to the war.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19190920.2.62
Bibliographic details
New Zealand Herald, Volume LVI, Issue 17270, 20 September 1919, Page 9
Word Count
173UNSETTLED MONEY MARKET New Zealand Herald, Volume LVI, Issue 17270, 20 September 1919, Page 9
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.