EXCHANGE RATE
AN ALARMIST REPORT DEPRECATED IN AUCKLAND (Special to Times) AUCKLAND, Tuesday A report from Wellington stating that the Government has reached an embarrassing position over its sterling exchange funds, is strongly deprecated in Auckland financial and banking circles. The suggestion that the exchange position is such that an advance in the rate on London is being discussed has drawn the reply that the London position, in view of all the circumstances, is most satisfactory. The matter was referred to the Prime Minister, Mr Savage, who said that comments such as those contained in the report were mischievous and harmful. “There is no embarrassment as far as the Government is concerned,’’ he said, “and there is certainly no suggestion of altering the
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Waikato Times, Volume 122, Issue 20512, 31 May 1938, Page 10
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123EXCHANGE RATE Waikato Times, Volume 122, Issue 20512, 31 May 1938, Page 10
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