New York, Mar. 11.
After touching a new low of 3.86 today, sterling moderately recovered but finally closed at 3.86, compared with the previous final level of 3.87. The high for the day was 3.87% and the low 3.86.
Sentiment was relieved by the fact that the British control measures would not be retractive and, at the same time, would be less onerous than expected.
European currencies mostly remained steady, but the Canadian dollar slumped to 82375, against Saturday's Quotation of 84.875, on reports that Canada was seeking to tighten regulations governing free exchange.
The lowest rate on Montreal today reached a discount of 16 per cent. against the official discount of 10 per cent.—Reuter,
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