RESTRICTION ON MONEY FOR TRAVELLERS

Chronicle (Levin), 5 November 1947, Page 4

RESTRICTION ON MONEY FOR TRAVELLERS

WELLINGTON, Nov. 4. To lielp Britain in her present dolJar crisis, the restrictions 011 taking money out of New Zealand had been tightened. This applies particularly to the transfer of funds to countries outside the sterling area and in part to Britain itseu. "The restrictions have been tightened sinee the annormcement of Britain 's dollar erisis," said an official of the Keserve Bank this morning, "and the transfer of funds to countries outside the sterling bloe has been limited to essential requirements. Each case in this c^itegory is judged strictly on its merita. ' ' Unless they are going there on business, it is also harder for people to transfer inoney to Britain. Though restrictions in this respect are not as stringent as those applying to nonsterling countries, the niove has been made to help diseourage people from going to the United Kingdom on holidays, as it is felt that a large influx o.t tourists at the present time would only serve to embarrass the Mother Country. Restrictions on the taking of currency to other countries in the sterling area, such as Australia and South Africa, are easier than for Britain because their general conditions are easier. No figures were available concerjiing the aniount of nroney travellers - are allowed to take o\it of New Zealand. An official of the Reserve Bank stated that no yardstick of currency exports was available because each case was considered on its merits.