Currency gap widens as Vietnam reforms lag behind
A House subcommittee warns that South Vietnam's exchange rate gap between official 118 piasters per $1 and black market around 430 piasters erodes reserves, fuels a gold drain, and undermines confidence in the dollar. The panel cites tax costs and moral corruption from the disparity lingering despite Thieu's reforms.
MENTIONED IN THIS ARTICLE
South Vietnam
Thieu
U.S
Vietnam
William S. Moorhead
D-Pa
Pakistani Forces Prepare Stand in Dacca Area
Brigadier Siddiqui, chief of staff of the Pakistani Army Eastern Command, says about 25,000 Pakistani soldiers near Dacca were ready for a final stand four days ago. He cites Indian air superiority and helicopter mobility as decisive factors, with East Pakistan casualties estimated at 5,000 to 6,000 and 5,000 captured.
MENTIONED IN THIS ARTICLE
Dacca
East Pakistan
Siddiqui
Eastern Command
Monetary accord signals dollar shift and broader realignment
The communique outlines a new monetary framework with U S dollar devaluation and gains for the West German mark and Japanese yen. Countries will close exchange markets, Canada keeps a floating dollar, and a 2.25 percent fluctuation band is set while future realignments are planned. President Nixon announced the deal at a Smithsonian venue, promising a more stable global economy and fairer competition.
MENTIONED IN THIS ARTICLE
United States
Treasury
John B. Connally
Canada
Connally
India Pakistan cease fire sparks six major attacks claim
Indian military spokesmen in Punjab and New Delhi describe six major attacks by Pakistan since the cease-fire. A Defense Ministry official says none confirmed as major, while Pakistan decries Indian violations. Jagjivan Ram and Indira Gandhi push for a cooperative path with Pakistan. In Dacca Bangla Desh soldiers begin to surrender.
MENTIONED IN THIS ARTICLE
Pakistan
India
Western Command
Punjab
Defense Ministry
New Delhi
Radio
West
Jagjivan Ram
Yahya
Cars Wine and Cameras To Cost More Abroad
A new monetary accord by ten leading non Communist nations will raise costs for Japanese cameras German cars and French wines while reducing American buying power overseas by about 8.5 percent. The plan aims to curb imports and boost U S jobs and business, with Japanese goods most affected by combined devaluation and revaluation.
MENTIONED IN THIS ARTICLE
Washington
U.S
United States
Japan
West Germany
France
United Kingdom
Treasury
John B. Connally
Also Mentioned on This Page
Mukti Bahini
Congress
International Monetary Fund
Connall
Leonard Jay Lanton
Aubury G. Lanston & Co
Santow
George W. McKinney
Irving Trust Co
McKinney
Nixon
Smithsonian Institution Museum
Smithsonian
Old Red Castle
Associated Press
Finish Butterflies
San Francisco
Frankovich
Goldie Hawn
Edward Albert
Eileen Heckart
Milton Katselas
Columbia Pictures
Leonard Gershie
Miss Heckart
Jewelry Dept
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