EXCHANGE RATES.
HINT OF EARLY REDUCTION. United Press Association--By Electric Telegraph—Copyright LONDON, March 9. There is again a persistent rumour that the Australian Exchange will shortly be reduced 10 per cent., but the Australian press inquiries reveal little encouragement therefore. It admitted that at this time of the year, with the wheat pool selling freely, money accumulates in London and there is perhaps sufficient of the recent accumulation to enable the Australian banks to repay the loans from English banks. This, perhaps, created a more comfortable feeling, but it is decidedly doubtful whether the remaining surplus is sufficient to justify any allevation of the exchange.
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Bibliographic details
Timaru Herald, Volume CXXXIV, Issue 18823, 11 March 1931, Page 10
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105EXCHANGE RATES. Timaru Herald, Volume CXXXIV, Issue 18823, 11 March 1931, Page 10
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