AUSTRALIAN EXCHANGE
NO INTERFERENCE WITH BANK STATEMENT BY MR LATHAM. LONDON, April 21. Mr J. G. Latham (Attorney-general for Australia) lias issued a statement to the press in which lie cites Mr Lyon’s declaration that the Australian exchange would not be varied for political reasons, and Sir Robert Gibson’s announcement on the subject. Mr Latham adds: “ These statements make it clear that the Commonwealth Government lias no intention of interfering with the Commonwealth Bank Board’s function in determining the exchange rate in the interests of the community generally.” Mr Latham was given an audience with the King, and afterwards had luncheon with their Majesties. CHANGES ANNOUNCED. SYDNEY, April 22. (Received April 23, at 0.10 a.m.) The Commonwealth Bank reports that there will bo no alteration in the rate of buying telegraphic transfers Australia on London, but there will be changes on all usances from on demand to 120 days, ranging from Is 3d to 6s 3d for buying rates, and from Is 3d to 3s 9d for selling in consequence of the decline in the bank rate.
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Otago Daily Times, Issue 21627, 23 April 1932, Page 11
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177AUSTRALIAN EXCHANGE Otago Daily Times, Issue 21627, 23 April 1932, Page 11
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