London, Jan, 8.
Today's alterations in the Bank of England's oficial exchange rates were viewed by banking circles as the probable result of pressure by commercial institutions, who believed for some time that the spread between buying and selling rates was unjustifiably large.
Authoritative quarters stress the fact that the decision to reduce the spread was in no way connected with today's) new regulations regarding the transfer of sterling from resident to non-resident accounts.
The new rates merely represent a return to greater normalcy in quotations, such as prevailed prior to the supersession of the free market by oficial quotations.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.