PROBLEMS OF EXCHANGE

Taranaki Daily News, 24 July 1930, Page 18

PROBLEMS OF EXCHANGE

INFLUENCE OF AUSTRALIA. •. - .By Telegraph,—Prec3 Association. Wellington, July 23. Investigations of the question whether the New Zealand rate of exchange was affected by Australian conditions was urged, in a resolution submitted to the Wellington Chamber of Commerce. It, was, decided,-that a deputation should wait upon the chairman of Associated Banks. The importers’ and exporters’ committees reported that at present imports have an extraordinarily • high. rate and exports had the. benefit of a-low rate. While the Dominion as one entity was not affected.by. the disparity it was felt that more information might usefully be made available with regard to. the position, especially in, relation to individual trades. The trading position of the Dominion at present, having due regard to the unshipped stocks of wool, butter,etc.,'was not unsatisfactory, and some traders had the impression that the Australian financial situation and accumulated trade balances had an influence upon the rates now ruling in New Zealand. An inquiry into those matters,' it was felt, would furnish data of interest to importers and exporters in New Zea-’ land. ,