EXCHANGE RATES.

Press, Volume LXVII, Issue 20173, 27 February 1931, Page 12

EXCHANGE RATES.

FALL LIKELY AT : ANY time. ; EXPECTED TO BE '.AT LEAST . , FIFTY PER. CENT.■ ' ■■ ■' ■ ' i. c'.j/'i"j*''it, CVKtTEO r&ES9 ASSOCIATION —, ELECTRIC) TEI»2GnAJPH—boPTBIOHT.) ' ' {Received. February 2§th;-9.20 pim.) , -MELBOURNE. February 26. ■ - Addressing a. conference of citrus j • growers, Mr N. 'Underwood, of Mil- . dura; said'that lie bad'received infor- - ination from bankers that the exchange i rata mighh fall at any time, and ' would certainly fall before the end of March. The reduction was expected | to bo at least-fifty per cent. > ' .

AUSTRALIA AND NEW ZEALAND. STATEMENT BY MR FORBES. [THE PBESS Special Service.] WELLINGTON, February 26. The Government has had under consideration the difficulty which has arisen throagh the exchange position between Australia and New Zealand. '• v

*' f lt is recognised," said the Prime Minuter to-day, "that if transactions could be arranged on a basis .of a deduction of, -say, 18-} per cent, exchange premiun;/ from the invoice value of goods shipped from Australia to New Zealand, the results might be serious for primary and secondary industries in the Dominion. It has therefore been decided that each case will be investigated by the Customs Departmeat, and where it is considered that say New Zealand industry might be prejudicially affected through the depreciation of Australian currency as compared with New Zealand currency, appropriate' action 'will- be taken to meet the position. Each case will be treated on its merits, and it is desired .that importers generally should rehder all possible assistance to the Customs Department in dealing with a difficult problem."

,ui» uiijiuriera g«u«nuijr biiuiuu reiiutjr all possible assistance to the Customs Department in dealing with a difficult problem." TRADE W?TH CANADA.