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Australia and New Zealand Revalue Currencies
Australia and New Zealand revalued their currencies for the second time this year to curb inflation. The Australian dollar rose 6.6 percent against the US dollar while New Zealand's dollar climbed 3 percent. Prime Minister Whitlam faced criticism over the move as mining and export returns may be affected. Opposition leaders called the action politically damaging and fiscally risky.
MENTIONED IN THIS ARTICLE
Canberra
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Australia
New Zealand
Labor Party
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Country Party
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Whitlam
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