THE EXCHANGE RATE.
STRONG STERLING RECOVERY. By Telegraph—Pres? Association—Copyright Australian and N.Z. Cable Association. (Received December 9. 10.5 a.m.l NEW YORK. December 7. Along with a rising market, and cross rates with the leading European countries, the sterling exchange has been making steady progress upward, the demand gaining five cents during the past week. reaching 4 dollars •562 cents. This is encouraging business men who are doing their chief trade with Britain, and it lia.s inspired a, feeling of betterment in the condition of Europe generally. Many explanations of the rise are given, but the chief reason advanced is the British Government’s retrenchments, and wise budgetary regulations.
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Bibliographic details
Star (Christchurch), Issue 16911, 9 December 1922, Page 12
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107THE EXCHANGE RATE. Star (Christchurch), Issue 16911, 9 December 1922, Page 12
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