REPAYMENT OF DEBT
U.S. To Accept German Marks (N.Z Press Assn.—Cmunaht i WASHINGTON, April 27. An unprecedented move by the United States to protect its own currency was announced today by the Treasury’s Under-Secretary. Mr Robert Roosa. He said that part of a 587 m dollars payment by West Germany on outstanding debts would be made in German marks instead of in dollars. • United Press International said the move would protect the United States dollar and gold reserves from any threatened weakening and enable the Government to hold the German marks in reserve to meet any upsurge in demand on the money market for the German currency. Mr Roosa declined to say how much of the German payments—due tomorrow—would be in marks.
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Press, Volume C, Issue 29501, 1 May 1961, Page 10
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122REPAYMENT OF DEBT Press, Volume C, Issue 29501, 1 May 1961, Page 10
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