STERLING RISES
HIGHEST SINCE 1914 AMERICAN RECORD By Cable.—Press Association. — Copyright. Reed. 11 a.m. NEW YORK, Wed. Sterling has reached 4 dollars 87 3-16 cents, the highest since 1914. Financial circles regard the rise as partly due to the Commerce Department’s recent calculation on the United States visible and invisible international payments of 1926, which made the year’s net credit to the United States, on all accounts except flow capital, only 13 million dollars, though this is regarded as more than offset by the 522 million dollars net export of investment capital from America. New York authorities declare that despite the latest rise, sterling is stilj far from the point where it would pay Americans to ship gold in preference to purchasing sterling bills.—A. and N.Z.
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Sun (Auckland), Volume I, Issue 204, 17 November 1927, Page 11
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126STERLING RISES Sun (Auckland), Volume I, Issue 204, 17 November 1927, Page 11
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