HIGH EXCHANGE
TRADE DISLOCATION. “The statement just issued by the Reserve Bank, announcing that the existing rate of 25 per cent would stand for a prolonged period, is, of course, dictated by the Government. Indeed, Mr Coates has never made any secret of the fact that control of the currency was a matter for the Government. That may be quite correct, but so lohg as the Government dictates that an artificial exchange rate should operate, so long will traders remain uneasy and trade be dislocated.” This statement was made by the president of the New Zealand Importers’ Federation, Mr Edwin Salmond, yesterday.
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Bibliographic details
Wairarapa Daily Times, 21 July 1934, Page 4
Word Count
102HIGH EXCHANGE Wairarapa Daily Times, 21 July 1934, Page 4
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