TO AVOID EXCHANGE.
ENGLISH EXPORTING FIRMS' OFFER TO CLIENTS. bank account in dominion. Electric Telegraph—Press Association CHRISTCHURCH, Last Night. Further evidence of an effort on the part of overseas financial and exporting firms to compel a lowering of the exchange rate New Zealand on London, or to avoid its operation, is now available. Advice has been received in New Zealand from a prominent firm of English soft goods manufacturers that it is prepared to land its merchandise in New Zealand for the * payment of only a 10 per cent, premium on the sterling price. Under s this transaction, the money would be hanked in the Dominion” and allowed to remain here, possibly pending a reduction in the rate of exchange. Another London firm of booksellers has added the following notice to its catalogue: “For the convenience of clients we have opened an account with the Bank at Wellington, New Zealand. Purchases from this catalogue may be paid for m New Zealand currency direct to that bank.” In this case no premium is asked. It is stated that already some importers have taken advantage of the offer made in the soft goods trade. «
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/PAHH19330823.2.25
Bibliographic details
Pahiatua Herald, Volume XLI, Issue 12429, 23 August 1933, Page 5
Word Count
192TO AVOID EXCHANGE. Pahiatua Herald, Volume XLI, Issue 12429, 23 August 1933, Page 5
Using This Item
NZME is the copyright owner for the Pahiatua Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). 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.