New York, Mar. 5.
Sterling abruptly declined tempora arily two cents on the New York Foreign. Exchange market. yesterday, coincident with reports that the British authorities were tightening purchases of free sterling abroad by requiring British exporters to invoice shipments in foreign currencies instead sterling.
In the event of such an action, it is believed that the free sterling market here will be materially narrowed.
Sterling opened at 3.91% and closed at 3.91%, compared with the previous day's final level of 3.92%. The high for the day was 3.91% and the low 3.91%.—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.