Rationing of most items of clothing and footwear was scrapped by the Israel Government last night. Essential foodstuffs and a few items of clothing are all that remain on the ration lists.
Commercial circles reacted favorably this morning to the new situation which merchants believe will speed up most retail transactions. The move also restored a measure of confidence in trading circles and the British gold sovereign which had been selling at 29.5 Israeli pounds, dropped to 28.5
Commenting on the abolition of the largest part of the rationing system, a government official last night said that the government’s monetary reforms introduced early this year had succeeded in making currency more scarce and thus reduced the demand for goods. These measures included changing the currency and instituting compulsory savings on currency and bank accounts.
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