EXCHANGE RATES.
REDUCED BY AUSTRALIAN BANKS.
By Cable- Press Association—Copyright. Australian and N.Z. Cable Association LONDON, May 6.
The Associated Banks have reduced the settling rates on Australia to 10s per cent, preriiium on drafts, and 15s on cable transfers.
By Cable—Press Association—Copyright, Reuter’s Tolegrama. Received May 7, 6.5- p.m. LONDON, May 6.
“The Morning Post,” in an article, welcomes the lowering of Australian rates, in view of the extent the Australian exchange must be affected by the large Australian loan, raised in London. It is' high time there should be an easing of the position as regards ordinary remittances. Now that both Australia and Britain are on the gold standard, there is greater need for preventing unnecessary transfers of gold, when ordinary exchange facilities should suffice.
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Bibliographic details
Timaru Herald, Volume XCVIII, 8 May 1925, Page 9
Word Count
127EXCHANGE RATES. Timaru Herald, Volume XCVIII, 8 May 1925, Page 9
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