Oldal 4 [4]
- page four ¬
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SPAIN : |
The improvement of Spain's economy has lea in recent weeks to such
a re-inforcement of the peseta that the Spanish government has been faced
with the necessity to lower artificially the course of its exchange in
Tangiers. By large offers of pesetas, it was possible to maintain its _
exchange rate at 46 to the dollar. Spain's financial experts estimate indeed
| that this is the optimum course, which is the most profitable for Spanish
| economy, for its foreign commercial exchanges and for its touristic
interests.
It is important to note that by the present black=market rate of
46 to thse dollar, the peseta is actually underevaliated anu sold for less
than its true worth.
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bd.