Possibly in anticipation' of Signor }Benito Mussolin!'s speech and -possibly. owing to the increasing nervous-Mess over Italy's economic position, there has been fairly heavy selling of the lira in the foreign exchange market during the past few day:
The Mahan authorities did not prevent the rate from depreciating on [Saturday and did not operate to-day until the tire weakened {o 08.7 to the pound, compared with 94,07 last week. The authorities "then stepped in, [thereby causing a recover of the lira 95.08, The market was somewhat mystic fed by the fact that the authorities Jdld not Intervene sooner, especially fas such a task was very easy, owing, to the narrowness of the market, resulting from the Italian control of foreign exchange. he weakness of the lira has been accompanied by a crop of rumours 10 the effect that Italy may alter her parity and call in bank' notes ete, Moreover, the internal price level has been rising rapidly; while the unfavourable trade balance for the first ten months of 1937 was nearly double that for the corresponding period of last year—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.