PURCHASE FROM OVERSEAS
CIRCUMVENTING STERLING DIFFICULTIES
(United Press Association)
WELLINGTON, February 10.
Since the inception of the import regulations, many wholesale houses have experienced difficulty in arranging sterling for purchases from abroad where a licence is issued to merchant clients. The difficulty now has been overcome by an arrangement entered into by the Reserve Bank of New Zealand with the trading banks. The banks will now be provided with forms which will be supplied to wholesalers who in turn will hand them to their merchant clients. As holders of the importing licences merchants will take these forms to their own banks where, after the necessary adjustments have been made, a certificate will be issued to the wholesaler which will enable him to arrange the necessary sterling with his own bank.
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https://paperspast.natlib.govt.nz/newspapers/ST19390211.2.26
Bibliographic details
Southland Times, Issue 23740, 11 February 1939, Page 6
Word Count
130PURCHASE FROM OVERSEAS Southland Times, Issue 23740, 11 February 1939, Page 6
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