NEW YORK EXCHANGE.

Taranaki Daily News, 14 December 1921, Page 5

NEW YORK EXCHANGE.

A FURTHER IMPROVEMENT. REASONS FOR THE CHANGE. By Telegraph—Press Association. Wellington, Last Night. The improvement in the rate of exchange between New York and London was referred to by Mr. Harold Beauchamp, th® well-known financial authority, in convert sation with a Times representative. H® said jt would be noted that during th® past week there had been a distinct improvement in the rate of exchange, and, according to the latest advices, the rate waa 4.21£. This meant a discount of practically 13 per cent, upon the pound sterling. Some time subsequent to the signing of the armistice the rate of exchange waa occasionally as large as 30 per cent, discount. “The recent improvement,” said Mr. Beauchamp, “may be attributable to three causes: Firstly, the substantial falling off in exports from the United States to Great Britain; secondly, the prospect of an early satisfactory settlement of the Irish question; and, lastly, the satisfactory progress made at the Conference at Washington. These three factors are undoubtedly working in favor of the improvement in the exchange rate.”