AUSTRALIAN VIEW
(Press. Assn.-
EFFECTS IN DOMINION
— ' By Telegraph — Oopyright).
Rec. June 3U, a.o p.m. SYDNEY, Thursday. Discussing New Zealand exchange, the Finaneial editor of the Sydney Morning Herald, remarked: "Will the lifting of restrictions make any difference ? That is the question exercising the rninds of traders with New Zealand." The wrlter then proceeded: "The money which went from New Zealand to Australia when stories of repudiation were flying around here, is now seeking repatriation, and finding difficulties in the way." s Regarding the position of New Zealand, it is considered that the banks themselves will impose restrictions on dealings in exchange, hut they will sell exchange on London in New Zealand only for hona fida transactions. Also any attempt to transfer money from Australia to London via New Zealand, wrill have possibly to be prevented. Limitation of exchange in this manner may hring about open market operations in New Zealand, from which there are sure to he some London funds available, and when converting to New Zealand currency they will desire better terms than the banks offer. If the banks restrict their offering, exporters and others from New Zealand, who find difficulties in getting the exchange they wTant, may go past the bank and buy from the importers.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19320701.2.22.2
Bibliographic details
Rotorua Morning Post, Volume 2, Issue 264, 1 July 1932, Page 5
Word Count
209AUSTRALIAN VIEW Rotorua Morning Post, Volume 2, Issue 264, 1 July 1932, Page 5
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