FLIGHT OF FRENCH GOLD
EFFORTS TO CHECK FLOW JUMP IN BANK RATE (Reed. Sept. 25, 11 a.m.) PARIS, Sept. 24. 'l'he French bank rate has been raised to 5 per cent. The sensational jump is intended! to check the outflow of gold. It is estimated that .£8,660,000 worth of gold was exported from France last week, and the total value since the beginning of August is estimated at £26,600,000. RALLY OF THE FRANC REACTION IN LONDON (British Official Wireless.) Rued. noon. RUGJ3Y, Sept. 24. Following the news that the Bank of France had raised the rate of discount to 5 per cent, the French franc, which earlier had shown weakness, rallied somewhat on (he foreign exchange market. The bank returns show an increase in the note circulation of £312,000, which City commentators incline to attribute chiefly to buying by French hoarders.
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Bibliographic details
Poverty Bay Herald, Volume LXIII, Issue 19129, 25 September 1936, Page 5
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141FLIGHT OF FRENCH GOLD Poverty Bay Herald, Volume LXIII, Issue 19129, 25 September 1936, Page 5
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