INDIAN CURRENCY.
RUPEE RATIO TO SOVEREIGN. By Telegraph.—Press Assn.—Copyright. Received Feb. 2, 2.50 p.m. London, Feb. 1. The Indis Office ha 3 denounced the acceptance of the Departmental Committee's recommendations as the goal to which Indian currency policy should be directed. Accordingly the Indian Government will henceforth buy gold from private importers at a ratio of ten rupees to the sovereign, but, owing to the present high commercial price of gold in India, and the necessity of avoiding a shock to India's economic monetary system, the adjustment of the new conditions must be gradual, and, therefore, the sovereign will provisionally remain legal tender throughout India at the present fixed ratio of fifteen rupees.—Aus.N.Z. Cable Assn.
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Taranaki Daily News, 3 February 1920, Page 5
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115INDIAN CURRENCY. Taranaki Daily News, 3 February 1920, Page 5
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