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Israel Permits Keeping Part of German Restitution Payments Abroad

May 27, 1959
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The Israel Treasury today again eased currency restrictions with a decision to allow recipients of restitution payments from West Germany to retain one-third of such funds in foreign currency for unrestricted use abroad. The remaining two-thirds must be exchanged for Israel currency.

The recipients also will receive a 20 percent premium for the two-thirds, in addition to the official 1. 8 pounds per dollar rate.

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