AUSTRALIAN NOTES
RATE FOR CHANGING 1 BANK CHARGE INCREASED [BY TELEGRAPH —PRESS ASSOCIATION] WELLINGTON, Saturday The Associated Banks have decided ;to charge 2} per cent for changing Australian note*. The decision of the Associated Banks is linked with the present ban on the export of silver. For some time the banks have endeavoured to block largo transfers of capital between Australia and- New Zealand, apart from ordinary trade requirements. However, a considerable trade has grown up in bringing Australian notes to New Zealand and changing them into Dominion currency. The' buying rate was \ per cent, although the banks in practice did not convert large sums unconditionally. The rate has now been raised to 2£* per cent, or 6d in the pound, and it is assumed that the banks w9l continue to scrutinise carefully all transactions.
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New Zealand Herald, Volume LXX, Issue 21463, 10 April 1933, Page 10
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135AUSTRALIAN NOTES New Zealand Herald, Volume LXX, Issue 21463, 10 April 1933, Page 10
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