NO CAUSE FOR ALARM
NOT RELATED TO VOLUME OF BUSINESS :STOCK EXCHANGE BRIGHTENS (British Offieial Wireless) RUGBY, Tuesday. . -Commenting on the fall in the pound sterling the Times emphasises that the movement is wholly out of relation to the volume of business and there is no cause for alarm. It states : "A number of temporary or artificial factors are operating in the Jnarket at present which account for the lack of support. Prominent amongst them are the restrictions placed upon dealings in exchange in foreign countries, which prevent foreigners in many cases from 'buying sterling, though no difficulties are 'placed in the way of the British importer paying for his purchases abroad 'and selling sterling. The fact that the .war loan dividend will be paid today also may have caused some foreign holders to sell sterling. These factors are sufficient to cause a fall but have no important signifieance." ; The London stock markets opened 'brighter to-day. Eneouraged by .Wall Street and a certain amount of bear covering, leading British funds jwere one-eighth to a quarter better in places, despite sterling's fall to 3 ■dollars 28i cents.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/RMPOST19311203.2.25.2
Bibliographic details
Rotorua Morning Post, Volume 1, Issue 87, 3 December 1931, Page 6
Word Count
186NO CAUSE FOR ALARM Rotorua Morning Post, Volume 1, Issue 87, 3 December 1931, Page 6
Using This Item
NZME is the copyright owner for the Rotorua Morning Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in