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Thursday, 5 May 1932


Mr LYONS - The policy of the Government is to leave the fixing of the exchange rate entirely to the Commonwealth Bank Board without any interference whatever. It feels that this matter should be decided by the Bank Board, which has full information of all the circumstances. The Bank Board makes its announcement week by week of what the exchange rate will be. The Government "does not intend to interfere with this in any way, and there is, therefore, nothing that it can do in regard to the matter.







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