THOUGHTS FOR THE TIMES.
AUSTRALIAN EXCHANGE RATES
Under the new scale the buying rate for an Australian £IOO cheque is £9O ißs 2d in New Zealand, and the selling rate £9l 6s 6d
In other words, it is now officially recognised that Australian credit has depreciated approximately 10 per cent., compared with that of New Zealand. Until now the banks’ rates did not make due provision for the altered economic conditions, with tjip result that private arrangements were being made in harmony with the general situation, It is scarcely necessary ta add that to persons and firms trading with the Commonwealth the new rates will have an important bearing on the business of the New Year that is just commencing. It will be very difficult to sell New Zealand goods to Australia, but conversely Australian firms should find entry to the New Zealand market corresponding easier. —Auckland Star.
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Hokitika Guardian, 17 January 1931, Page 4
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148THOUGHTS FOR THE TIMES. Hokitika Guardian, 17 January 1931, Page 4
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