STERLING DECLINES
DUE TO DEBT PAYMENT FEARS
SHARP RECOVERY
(Keceived.liJth November, 11 a.m.)
LONDON, 18th November.
Sterling receded 3.27J dollars to &, the lowest point of the year. The drop is due to "fears that payment, of the war debt to America' in December will deplete the exchange equalisation fund, rendering the authorities unable to support the pound, -which may fall to a lower level. .
Heavy seasonal payments for cotton an 3 wheat contributed to the decline in sterling from which later there was a sharp recovery to 3.29 dollars. The franc rate also improved from 83ft to 84 to A. -' ■ s ■ ■
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Bibliographic details
Evening Post, Volume CXIV, Issue 122, 19 November 1932, Page 13
Word Count
101STERLING DECLINES Evening Post, Volume CXIV, Issue 122, 19 November 1932, Page 13
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