NEW DOLLAR RATE FIXED BY AUSTRALIA
CANBERRA, Sept. 19. "'The Australian Government has carefully considered the implications of the change in the dollarsterling rate and has decided that the existing ratio of 125 Australian pounds to £100 sterling should be unchanged," said the Prime Minister, Mr. Chifley, in a broadcast speech this morning. Accordingly, ps from today a new dollar rate has been fixed at 2.24 American dofiars to the Australian pound. Banks will be open as usual to•dav." Speak-ing later in Sydney, the vovemor of the Commonwealth Bank of Austraiia, Dr. H. C. Coombs, said that steps had been taken to inform all banks of the position and that this morning thev would continue trading with sterling on the same basis as last week. ^The new telegraphic transfer rates would be: Buying, 2.2425 dohars to the pound, and selling 2.2275 dollars to the pound. Rates with Other countries affected by the change would be announced as soon as'possiblp, until which time banks would susnend trading in the currency of_those countries.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19490919.2.21.5
Bibliographic details
Chronicle (Levin), 19 September 1949, Page 5
Word Count
171NEW DOLLAR RATE FIXED BY AUSTRALIA Chronicle (Levin), 19 September 1949, Page 5
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in