EXCHANGE RATES
END OF CREDIT POOL. (By Telegraph—Per Press Association.) CHRISTCHURCH, June 14. “The Government lias not interfered with the exchange rate, and does not intend to interfere,” said the Prime -Minister, Mr L'D.-bes, tins evening. Air Forbes lias been spending the week-end at his home at Cheviot. Tile Prim© Minister was asked what would happen to the exchange rate when the regulations under the Exchange Credits Pool wore relaxed at the end of June. Mr Forbes said that the present exchange rate had been fixed by the banks, and, presumably, it would still he maintained by the banks when the regulations were withdrawn. It was -not the- Gioveirnment’s function to fix the exchange rates. Air Forbes said that when til© exchange credits pool was first formed, an under-standing was given that when the 'Government’s requirements for its .commitments in London were met, the Regulations would be withdrawn. The Government was giving effect to this-understanding at the end of June.
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Hokitika Guardian, 14 June 1932, Page 6
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160EXCHANGE RATES Hokitika Guardian, 14 June 1932, Page 6
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