FRANC IN DEMAND
RETURNING FLOOD BECOMES OVERWHELMING SMALL HOARDERS STORM OFFICES. . FURTHER RISE IN RENTES. (By Telegraph—Press AssociationCopyright.) LONDON, May 6. The "Daily Telegraph’s” Paris correspondent says the flood of returning capital has become overwhelming, and it is impossible to cope with the demand for francs, which is assuming a panicky character. Small hoarders stormed the offices of money changers, glad to take 177 for sovereigns and sterling notes. The official rate was held at 178.40 only by the active and firm intervention of the Equalisation Fund. Profit taking checked the boom on the Bourse. Nevertheless rentes, in which most holders of foreign currencies are investing, rose, further reducing the yield from National Defence Bonds from 4 to 31 per cent.
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Wairarapa Times-Age, 9 May 1938, Page 4
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121FRANC IN DEMAND Wairarapa Times-Age, 9 May 1938, Page 4
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