• Short Summary

    As world currency speculation was added to the international uncertainty caused by the oil shortage and Japanese yen came under increasingly heavy pressure on Wednesday (January 23rd, 1974).

  • Description

    1.
    GV Tokyo Bank
    0.05

    2.
    CU plaque Bank of Tokyo
    0.06

    3.
    INTERIOR Officers working, clerks etc. (3 shots)
    0.24

    4.
    GV Exchange quotations board
    0.27

    5.
    GV Offices
    0.29

    6.
    GV Stock Exchange and CU Plaque (2 shots)
    0.37

    7.
    GV INTERIOR exchange (3 shots)
    0.54



    Initials AE/22.50 AE/22.58



    Script is copyright Reuters Limited. All rights reserved

    Background: As world currency speculation was added to the international uncertainty caused by the oil shortage and Japanese yen came under increasingly heavy pressure on Wednesday (January 23rd, 1974).

    After a two-day closure, following the floating of the French franc, the Bank of Tokyo was forced to spend three hundred million dollars to keep the yen at the official exchange rate of three hundred to the dollar.

    The rush to buy the increasingly strong American dollar for the once-powerful yen was precipitated by fears that a further de facto devaluation would be forced on the Japanese Government.

    Officials from the Ministry of Finance said Bank of Japan had kept the yen at three hundred to the dollar to prevent a possible race for a world-wide devaluation of non-dollar currencies.

  • Tags

  • Data

    Film ID:
    VLVAEW4V003TANO6MQBUFWAZUQHP8
    Media URN:
    VLVAEW4V003TANO6MQBUFWAZUQHP8
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    24/01/1974
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:00:55:00
    Time in/Out:
    /
    Canister:
    N/A

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