Foreign Relations of the United States Diplomatic Papers, 1940, The American Republics, Volume V

822.51/858: Telegram

The Minister in Ecuador (Long) to the Secretary of State

Quito, April 27, 1940—11 a.m.
[Received 8:40 p.m.]

35. This morning’s press announces that the Central Bank of Ecuador yesterday morning stopped selling exchange to commercial banks, but that it will take care of its own exchange requirements.

General Manager Central Bank states that notwithstanding nervousness the sucre did not plummet downward as expected but fluctuated about 15 points ending around 15.45. However, local banks refuse to sell dollars for less than 15.80.

Long