EXCHANGE RATES
QUESTION OF ADJUSTMENTS. Discussing changes in exchange rates, the “Sydney Morning Herald” of October 16 said: “So far, no adjustment of New Zealand exchange i n ties has tak\en place. There is hesitancy as to whether the l rate between Australia and New Zealand should be adjusted or whether the rate between New Zealand and London should be altered. The Australian banks with branches in New Zealand favour shifting the London rate to something- approaching the Austral-ian-London rate; the purely New Zealand banks want the New Zea--1 and-Australian rate altered. The hesitancy will help to break down the fixed market conditions and tend: towards more freedom in exchange rates, which' will make finance more variable .for the importer, and will probably benefit the exporter.”
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Hokitika Guardian, 30 October 1930, Page 7
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126EXCHANGE RATES Hokitika Guardian, 30 October 1930, Page 7
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