GERMAN EXCHANGE.
BIG FALL IN THE MARK. SEVERAL INFLUENCES AT WORK. By Telegraph.—Press Assn. —Copyrigtt. London, Sept. 27. The Berlin exchange is 460 marks to £l, after touching 470. Received Sept. 28, 5.5 p.m. Berlin, Sept. 27.
The continuous fall of the mark is resulting in panic. During the day 424 marks were paid for an English pound, and later 470, compared with 20 £ before the war. A total of 127 marks were offered for an American dollar.
The fall is attributed to German industrialists buying foreign raw material too heavily in order to take advantage of a possibility of selling the manufactured products on favorable terms. It is also said the Reichs Bank is buying foreign currency in large quantities for reparation payments. A third reason is that speculators in Holland, Sweden, Denmark and Switzerland hold great quantities of marks, and are now desirous of selling and cutting their losses.—Aus.-N.Z. Cable Assn.
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Taranaki Daily News, 29 September 1921, Page 5
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153GERMAN EXCHANGE. Taranaki Daily News, 29 September 1921, Page 5
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