EXCHANGE RATE
FIJI INDEPENDENT
Cabled advice has-been received in Auck-. land to the effect that Fiji has broken with New Zealand in regard to exchange on London. . The "Herald"; announces that .the exchange rates Fiji on London were advanced from approximately li to 25 pei- .cent, on .January 20, simultaneously wjth London. A meeting" of "the" Legislative Council on March 28 stabilised the ratjT at" £111 Fiji for £100 sterling. The of Currency will handle "tlie eschaiige" on a minimum^ of £5000; ' Local' banks have been askeil to co-operate. The 'effects'of-the alteration upon-New Zealand trade cannot'bel judged yet.'. However, it was "stated by a leading importer, .that -the: banks .had ,not decided yet whether a special rate would be established. .New. .Zealand on Fiji on ordinary trade transactions. If this was not done the Fijian banana grower would receive a relatively lower return on his sales of bananas to New Zealand. It was _ considered the alteration would not affect the' price: of bananas in New Zealand. At present Fiji had a quota on the New Zealand market. This would be filled and prices would be determined by the demand as shipments arrived.
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https://paperspast.natlib.govt.nz/newspapers/EP19330330.2.158.4
Bibliographic details
Evening Post, Volume CXV, Issue 75, 30 March 1933, Page 14
Word Count
192EXCHANGE RATE Evening Post, Volume CXV, Issue 75, 30 March 1933, Page 14
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