EXCHANGE TO AUSTRALIA
BANKER'S STATEMENT IMPORTANCE OF STABILITY (Received March 10, 7 p.m.) SYDNEY, March 10. Amplifying his earlier statement that no alteration is imminent in the exchange rate, Sir Claude Reading, chairman of the Commonwealth Bank, said that the total funds held in London at the present time by the Australian banks, together with the funds nelo by the Commonwealth Bank, were ample to meet governmental obligations, and all legitimate requirements. He added that the Commonwealth Bank Board was still of opinion that stability in the rate of exchange was of the utmost importance. RELIEF IN LONDON FEARS OF INCREASE (Received March 10, 7.0 p.m.) LONDON, March 9. The "Sun" reports that British exporters are greatly relieved by the Australian denial of the imminence of an alteration in the Australian exchange rate. There have been fears of an increase, resulting in considerable hustling to ship at the earliest moment possible, which is now unnecessary.
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Press, Volume LXXI, Issue 21419, 11 March 1935, Page 11
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155EXCHANGE TO AUSTRALIA Press, Volume LXXI, Issue 21419, 11 March 1935, Page 11
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