THE INDIAN EXCHANGE
SHARP FALL REPORTED. i. Cable advice wna received in Wellington on Monday by Mr. Jno. Ginn, tea broker, stating that the rupee had {alien suddenly from 2s to la 7d, and the Calcutta market was demoralised. Cable advice from London last night stows a further fall, the value of'the rupee being given as Is fld. This, is only twopence more than the pre-war rate of la ■ld, or 15 rupees to the £. Asked as to the effect of this, a New Plymouth merchant states that it must mean it fall in the Indiafc market, and consequently lower prices for tea, spices, all jute goods, and other articles of everyday use imported from India. The exact cll'eet on the tea market, however, cannot be suggested without fuller market information, for the price of tea has advanced appreciably, and other oauses may keep the price firm." The best teas arc selling retail to-day at from 2s Od to ,'is a lb loose, and 3s 6d a lb in packets.
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Taranaki Daily News, 13 October 1920, Page 4
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170THE INDIAN EXCHANGE Taranaki Daily News, 13 October 1920, Page 4
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