CHEAPENING THE YEN
MORE OFFERED FOR GOLD. Received April 8, 5.5 p.m.) TOKIO, April 6. The official purchase price for gvbl advances to-morrow from 2.65 yen to 2.95 yen per gram. It would appear from the above message that Japan is taking a leaf out of th<> Roosevelt book by depreciating the purchasing power of the yen in regard to old. This move will have the effect of making Japanese goods cheaper to foreign countries, although it will make purchases on account of Japan dearer in those countries. So far ns Japanese wool purchases in Australia and Now Zealand are concerned, it may be said that the selling season is over, and that Japan has almost, if not quite, bought all the wool it requires for the present.
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Wanganui Chronicle, Volume 77, Issue 83, 9 April 1934, Page 11
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128CHEAPENING THE YEN Wanganui Chronicle, Volume 77, Issue 83, 9 April 1934, Page 11
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