REPARATION OUTLOOK.
IMBBOVED EXCHANGES. SPSRIT OF OPTIMISM. NEW YORK RATES HIGHER. By Telegraph—Press Association—Copyright. (Received 7.85 p.m.) A. ar.i N.Z. NEW YORK. July 14. The pound sterling, following a month's gradual improvement, has gained four cents. It has reached . 4.38|, or two cents below the year's high level. The franc rose fractionally, reaching 5 1-10 cents. The lira is at 4 310 cents. Bankers attribute the rise of sterling exchange to London's higher money market, and a .widespread belief that the British bank rate will be advanced. The dominant factor is the existing optimism regarding the impending Reparation Conference. Some observers assert that the strength of the exchanges is a prediscount to the successful termination of the conference, which is likely to make a preliminary announcement of an international loan for the economic stabilisation of Germany.
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New Zealand Herald, Volume LXI, Issue 18762, 16 July 1924, Page 9
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136REPARATION OUTLOOK. New Zealand Herald, Volume LXI, Issue 18762, 16 July 1924, Page 9
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