The Archive · 1938

French Franc Is Weak in London

Remarks by Premier Cause Slight Uneasiness

London, Mar. 8.

Vague reference made during the week-end by M. Camille Chautemps. the French Premier, to "important sacrifices" for national security, served to create some nervousness over the franc in the London foreign exchange market yesterday morning.

After opening at 153.93, a moderate volume of offerings from the Continent drove the rate down to 154.50, which level the French Control succeeded in arresting the fall. The rate finally closed at 154.93. Depreciation was assisted by sales of francs for commercial account, especially against purchases of dollars.—Reuter.

Text read from the printed page and cleaned; old type leaves the occasional error.

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