ITALIAN MONEY
SPENT BY AUSTRALIANS PROBLEMS OF EXCHANGE (United Press Assn.—Elec. Tel. Cupyright) BENGHAZI, Feb. 25 Australian troops in Benghazi and Barce are spending Italian money whicn tney have been collecting from the Bardia victory onwards. Some men have more tnan 10,U00 lire each. There are whole companies of infantrymen in which no man has fewer than 1000 lire, and one man has lire worth £16,000 at the prewar rate of exchange. The soldiers have been selling lire at from 200 to 300 for the Egyptian pound (£1 5s Australian), but local shopkeepers expect to receive one piastre for one lire. The exchange rate will probably be lixed by the military administration at about 150 to the Egyptian pound. Meanwhile, Italians here, realising that their currency is falling in value, and is likely to fall further, and possibly disappear, are hoarding goods until the currency is stabilised. For example, coffee, which was plentiful yesterday, was almost unobtainable to-day.
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Waikato Times, Volume 128, Issue 21356, 26 February 1941, Page 5
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158ITALIAN MONEY Waikato Times, Volume 128, Issue 21356, 26 February 1941, Page 5
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