VALUE OF THE DOLLAR

Auckland Star, Volume LXXIII, Issue 127, 1 June 1942, Page 3

VALUE OF THE DOLLAR

NEW ZKAIjAND EXCHANGE (0.C.) WELLINGTON. Sunday. Inquiries have been made as to whether currencies other than New Zealand are acceptable locally, and if so at what rates of exchange. The answer is supplied by a statement marie by the Prime Minister, Mr. Fraser. last March, that to enable members ol any Allied Forces who may be in New Zealand from time to time to use their own currency for purchases or In payment lor services, arrangements had been made which would permit acceptance from members of the Allied armed forces of certain overseas currencies (for the present those of the United States and Australia) at rates fixed by the Reserve Bank. The fixed rates are set out on printed cards available at the Reserve Bank and the principal branches of the trading banks, and which will also be distributed to any Allied forces arriving here. Examples are: Five cents. one dollar, 6 1; Australian currencv. 10 , 9 11 New Zealand: £1. 19/10 New Zealand; £5. £4 19 6 New Zealand. It is emphasised that no trafficking in overseas currency between New Zealanders is permissible, and any person receiving it must immediately sell it to a trading bank at the fixed rate.