DEMORALISED.
THE GERMAN MARK.
GONE PAST REDEMPTION, BUSINESS IS REFUSED. By Cable—Press Association—Copyright. (Received 1 a.m., January 19.) NEW YORK, Jan. 17. An almost total demoralisation of the German mark has occurred. . The foreign exchange market here, following the further penetration of the French units into the Ruhr caused the mark to drop approximately to 21,000 for the dollar. Many exchange dealers now decline to accept any business in German exchange, alleging that the mark has long since passed a point where there is a possibility of speculative recovery. Meantime, there is an active demand for actual paper marks in New York, but they cannot be purchased for less than approximately double exchange quotations.—A. and N.Z. Cable.
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Bibliographic details
Timaru Herald, Volume XCVIII, Issue 18030, 19 January 1923, Page 7
Word Count
117DEMORALISED. Timaru Herald, Volume XCVIII, Issue 18030, 19 January 1923, Page 7
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