Story: Balance of payments

Reserve Bank teller

Reserve Bank teller

Faced with a balance of payments crisis in 1938 the Labour government imposed controls over both imports and the issuing of foreign exchange. The Reserve Bank, established four years before, was responsible for administering applications and issuing foreign exchange.

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Reserve Bank of New Zealand

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How to cite this page:

C. John McDermott and Rishab Sethi, 'Balance of payments - A brief history', Te Ara - the Encyclopedia of New Zealand, (accessed 25 May 2022)

Story by C. John McDermott and Rishab Sethi, published 11 Mar 2010