ABOVE PAR
THE POUND STERLING.
HIGHEST SINGE PRE-WAR
(Received 17, 11.45 a.m.) New York, Nov. 16. The pound sterling has reached
487 3-18, the highest since 1914. Financial circles regard the rise as partly due to the Commerce Department’s recent calculation on the United States’ visible and invisible international payments in 1926, which made the year’s net credit to the United States, on all accounts except the flow of capital, only 13 million dollars, though this is regarded as more than onset by the 522 million dollars net export investment capital from America.
Authorities declare that despite the latest rise the sterling is still far from a point where it would pay Americans to ship gold in preference to purchasing sterling bills.
The part rate of exchange is 486 2-3.
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Hawke's Bay Tribune, Volume XVII, 17 November 1927, Page 5
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130ABOVE PAR Hawke's Bay Tribune, Volume XVII, 17 November 1927, Page 5
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