STILL FALLING
(Press Assn,
STERLING REACHES LOWEST LEVEL FOR TEN YEARS no attempt to stabilise
. — By Telegraph — Copyright.)
NEW YORK, Tuesday. The pound sterling to-day continued its abrupt decline, breaking more than nine cents to 3 dollars 30 cents., the lowest in ten years, being only 12 cents above the reeord low quotation of 3 dollars 18 cents, reached prior to the return after the war to the gold basis. Selling continued from all sides — from Britain, Franee, Holland, and other principal finaneial countries. * According to advices from Wall Street no efforts have yet been made on the part of the British Government to stabilise the pound, the present in- • tention apparently being to let it seek its natural level." . Although French bankers and the French Government are said to be favourable to stabilisation and are reported from Paris to be willing to advance credits, Wall Street bankers doubt that such a move will be attempted at an early date. Britain's foreign trade, according to reports is being stimulated by the lower price of sterling.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 87, 3 December 1931, Page 6
Word Count
175STILL FALLING Rotorua Morning Post, Volume 1, Issue 87, 3 December 1931, Page 6
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