Menu JTA Search

Israel Newsdealers Face Currency Problem in Importing American Newspapers and Books

The New York Times today announced that it is attempting to make arrangements for the acceptance of Israel currency in payment of copies of its international air edition sold in Israel.

The announcement was made following a report from Jerusalem that newspaper importers announced yesterday in Israel they would import no more American, Canadian or French newspapers and magazines because the Israel Government had not granted them foreign exchange quotas since February. The importers explained they had contracted large dollar debts and feared the consequences if the Israel pound were devaluated.

The report from Jerusalem emphasized that Russian publications are continuing to enter Israel because the Russians accept payment in local currency, the revenue being spent by the Soviet legation in the Jewish state. British publications also continue to arrive, since the recent agreement for the release of Israel sterling reserves by Britain provided for 40,000 pounds sterling for the sale of books, newspapers and magazines.