SEEN AS SET-BACK FOR BRITISH POUND
Received Sunday# 7 p»Ui. Nirvv f ORK, Aug. 21. Mr. PkM Selfefiiaii, the Ne# York " 6- " " - -
Times; finaneial wriler, says New Yofk financial eireles regard New Zealand 's curi'ency revaluation as a setbaek for : the British pound. "Ec.oiiomicaHy the xifain will be refiected in a higher cost to Britain of her share of New Zea5 land's suipliTs. Psychologically the effect mav be even moi-e far-reachihg. Will Australia, which has an expoi't surplus in the sterling area, follow suitf" He adds: "Any upward valuatxon oi the DoiiP':'>n pounds against the British pobiu' is bound -to compottnd the sterling •'••"a trade problem anew. However effecti ve'such a move may be in taking more dollars to New Zoalfl.nd or Australia, it would not be to the re-: lief_ of tlie British pound but rathef tef its' bmbkrrassmeM. ' ' - ... , / ' '
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https://paperspast.natlib.govt.nz/newspapers/CHRONL19480823.2.32.4
Bibliographic details
Chronicle (Levin), 23 August 1948, Page 5
Word Count
140SEEN AS SET-BACK FOR BRITISH POUND Chronicle (Levin), 23 August 1948, Page 5
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