LESS NEED FOR AUSTRALIA TO APPRECIATE CURRENCY
Received Fridav, 11.15 p.m. LOXDOX, August 20. j Mr. Chifley's assurauce that Aus ; tralia did not intend appreciating Aus ' tralian eurrency fojlowing Xew Zea ! larnl's move was lirmly credited 111 j London, says the Manchester Guard /an's fmancial editor. Australian wool- | growers who would object on the saiue 1 grounds as Xew Zealand woolgrovvers1 are polilically a inuch stronger groiiji I There is nothing like the same need to bring down the priee of imported goods Australia has large secondary industrie.s and the short agd of consumer goods is not really. acut'e, The present 'exchange! rate is anb effeetive form of prpte.ct.ion hnd also'heips to attraet capital for iu vestment in Australia. Reuter 's Singapore eorrespondent savs local liankers are laking pr— cautions against large transfers of money to Australia after the raising oi' the Xew Zealand pound to parity with sterling, reports the »Singapore Free Press. The man'ager of oue large banti said that trausactions wliieh were obviouslf a gamble 011 tlie appreciation of the Australian eurrency were being refused.
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Chronicle (Levin), 21 August 1948, Page 5
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178LESS NEED FOR AUSTRALIA TO APPRECIATE CURRENCY Chronicle (Levin), 21 August 1948, Page 5
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