HIGH-PRICED EXCHANGE
SYDNEY", 10th February. Owing to the depletion of Australian funds in London, the operating banks iv Australia announce that they have been obliged to again raise the rate for drafts another ten shillings per cent., which will operate from to-morrow. '■
It will now. cost an importer G2s 6d per cent., premium to transfer credits from Australia to London.
The charge is the highest for years, and is regarded as prohibitive. It will tend to check imports, however, as is no doubt intended. / •
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Evening Post, Volume CIX, Issue 40, 17 February 1930, Page 12
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84HIGH-PRICED EXCHANGE Evening Post, Volume CIX, Issue 40, 17 February 1930, Page 12
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