S" S PM. No. 122/ 1967
DEWLUATION CF POUND STERLING
Statement by the Frime Minister, Mr Harold Holt
Cabinet has considered the situation created by
the British Government's announcement of the devaluation of the Found
Sterling by 14. 3 per cent. It has decided that there shall be no change
made in the currency value of the Australian Dollar.
The decision has been taken after considering the
views of the Governor and Deputy Governor of the Reserve Bank and
of senior Government officials.
Cabinet recognised that the effects of this decision
w: ill fall unevenly on the Australian economy as come industries,
particularly some primary industries, are more closely linked with the
British market than others. These difficulties, some of them critical,
are now under urgent examination to find appropriate ways and means
of overcoming the problems.
CANBERRA, 2Sth November, 1967
Holt, Harold
Period of Service: 26/01/1966 - 19/12/1967
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Release Date:
20/11/1967
Release Type:
Media Release
Transcript ID:
1721
Document:
00001721.pdf
1 Page(s)
Released by:
- Holt, Harold Edward
FOR PRESS: PM.NO 122/1967 DEVALUATION OF POUND STERLING STATEMENT BY THE PRIME MINISTER MR HAROLD HOLT
1721