HEAVY FALL IN STERLING

Auckland Star, Volume LXXIV, Issue 80, 5 April 1943, Page 5

HEAVY FALL IN STERLING

RESERVE BANK STATEMENT (P.A.) WELLINGTON, Saturday. The Reserve Bank return for the week ended Monday, March 29, with variations in the figures compared with those in the previous statement, is as follows:— Liabilities.—Gen. reserve, £1,500,000 (same); bank notes, £30,347,609 ( + £64,365)* Demand liabilities: State, £15,560,049 (—£1,476,838); banks £20,829,963 (— £840,240k other £ (+£52,013); other currencies, £12,687 (—£7 l), other liabilities, £1,667,691 (+£6332); total, £70,285,041 (—£2,194,439). Assets. —Reserve: Gold, £2,801,877 (same); sterling ex., £22.230,554 (—£9,501,223); subsidiary coin £24,032 (—£1870). Advances: marketing, £47309,238 (-£627,055); other, £28 135 000 (+£1.960,000); investment. £10,458,322) (4-£5,-999,881); other assets, £2,326,018 ( —£24,172; total, £70,285,041 (—£2,194,439). Proportion of reserve to notes and other demand liabilities. 37.285 per cent (49.810 last Week). Three Years Compared The following table shows the position of the bank's funds at this date for the past three years (in thousands of pounds):— 1941 1942 1943 Bank Notes 21,441 24,132 30,348 Deposits— State 6,270 13,457 15,560 Banks 12,844 16,437 20,830 Exchange ..... 17,537 18,344 22,231 Advances— Marketing 2,926 7,602 4,309 Other 15,500 23,040 28,135 Ratio (per cent) 49.007 38.949 37.285