EXCHANGE RATE
CANADA’S INTEREST SAVING
(Per Press Association — Copyright
AUCKLAND, December 26
According to Mr R. Robertson, a Vancouver merchant who arrived -by the Aorangi, Canada will save about; 75 million dollars yearly in interest alone because of. the fact that the exchange'rate with the United States now favours Canada.
Canada had been paying between 12 and 25 per cent exchange at various times, but Canadian funds are now at a premiurii of from 4 to 5 per cent. Mr Robertson said that nobody seemed able to-predict the future in the. United States. An outstanding feature was the confidence everywhere in: ■President Roosevelt. There was wide-, spread confidence that if the National Recovery Act failed, Mr Rosevelt will find some other way out. —^——■
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Hokitika Guardian, 27 December 1933, Page 6
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123EXCHANGE RATE Hokitika Guardian, 27 December 1933, Page 6
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