ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Commercial Infrastructure

THOUGH not in the fact of the event, in its timing the devaluation of the French franc, announced on August 8, did manage to take the world by surprise. To France the external value of the franc is not the same holy cow which the pound sterling is for UK. Since de Gaulle began his presidential career with a devaluation (or rather two devaluations) of an almost identical proportion, Pompidou can hardly be said to have begun inauspiciously.

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