OVERSEA EXCHANGE
DISCUSSED RECENTLY IN AUSTRALIA SOME MINISTERS FAVOUR INCREASE. ALTERATION OPPOSED BY EXPERTS. By Telegraph—Press Association— Copyright. SYDNEY, March 1. It is understood that a proposal for an increase in the overseas exchange rate was recently discussed between representatives of the banks • and the Commonwealth Ministry and it has since been revealed that expert opinion is opposed to a change at this stage. A section of the Ministry, according to the Press, favoured an increase. The.matter is at present in abeyance. The object of such a move was to help Australia in her overseas trade relations and to aid the primary industries by offsetting the effects of the fall in export prices. NO DISCUSSION. STATEMENT BY BANK CHAIRMAN. (Received This Day, 10.50 a.m.) SYDNEY. March 1. Sir Claude Reading, chairman of the Commonwealth Bank Board, said the question of any variation in the Australian oversea exchange rate was not under consideration by the Commonwealth Bank, nor had it been discussed with representatives of the trading banks or the Government.
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Wairarapa Times-Age, 2 March 1939, Page 7
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170OVERSEA EXCHANGE Wairarapa Times-Age, 2 March 1939, Page 7
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