RESERVE BANK RETURN

Press, Volume LXXV, Issue 22804, 1 September 1939, Page 13

RESERVE BANK RETURN

Sterling. Exchange Higher ADVANCES TO STATE AGAIN HIGHER An increase in sterling exchange of £237,312 is shown in the Reserve Bank' return this week. Sterling stands now at £5,690,208 in New Zealand currency. • Advances to the State have risen by £ 107,838, of which £ lOOjOOO is for purposes other than marketing. These advances now total £ 13,850,000, and those for marketing make up £5,783,699. State deposits have again moved to a lower level. At £1,451,498, they are less than they were a week ago by £781,347. Demand liabilities to the bank continue to expand, this week’s total of £12,581,860 being £872,672 higher than last week’s. Investments continue to fluctuate, the value being down this week by £203 757. The proportion of reserve to notes and other demand liabilities is fractionally higher at 28.112 per cent. The return, with variations compared with last week, is as follows: Liabilities Change from last week £ £ (1) General reserve 1,500,000 Same (2) Bank notes .. 15,802,188 +22,472 (3> De (T) a State abllitl . e . S “l,4sl,49B -781.347 lb) Banks I. 12:581,860 +872.672 toother • • 343,185 +6LI3 9 (4) Time deposits .. = am * (5) Liabilities in cur- * rency other than -2 036 New Zealand .. 8.272 (8) Other liabilities 453.436 +2,527 Total •• 32,140.439 +175.426 Assets (7) Re (a e ) r GOd •.. 2.801,839 Same Ct>) c S hlnge S CX ' ' 5.690,208 + 237.312 (c) Gold exchange . • Same (8) Subsidiary coin 235,651 24 (9) Discounts—(a) Commercial and agrlcultural bills Same (b) Treasury & local body _ bills .. Same (10) Advances— Ca) To the State or State undertakings: (1) Primary Products Marpartment .. 5,783„699 +7,838 purposes .. 13,850,000 +IOO,OOO (b) To other public authorities ... (c) other • • same (11) Investments .. 3,657,672 (12) Bank buildings Same (13) Other assets .. 121.350 + 34,056 Total .. 32,140,439 , +175,426 Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 28.112 per cent, (last- week, -27.478), The principal items in this week’s return compared with those at -the corresponding date last year are:— (000’s omitted) 1939. 1938. Variation Notes .. 15*802 13.898 + 2,106 D |tate S_ .. 1.451 3.991 -2,540 Banks I. 12.581 6.487 +6,094 Exchange .. _ 5.690 13,694 —8,004 A 'Marketing .. 5.783 3,733 +2.050 Other •• 13.850 2,900 +10.950 Ratio (per cent.) 28.112 67.184 foreign exchanges QUQTATIONS FROM BANK OF ' NEW SOUTH WALES The Bank of New South Wales quoted the following exchange rates yesterday:— Buyers. Sellers. N.Z. on L °£N > Z - tO £IOO Stg. T.T. 124/7/6 125 «N.Z. to *iuusws. QJS 123/18/9 124/19/6 Al £A al tO~£loo N.Z. T.T. 100/10/- 100 *A. to *auu QD 10Q/1( y. 100 Tg-g ggg Union of South Africa— ■ . £N.Z. to tt 123/4/6 124/17/O.D. 122/17/- 124/17/N lXl, Y to k £l N.Z. T.T, 3.5876 3.2661 . O.D. 3.5926 3.2671 M DoL e t<r £1 N.Z. T.T. 3.6352 3.3353 O.D. 3.6439 3.3363 8 O.D. 21.527 19.907 Denmark—- ' Kroner to £1 N.Z. T.T. O.D. , r MarlKto£l N.Z. T.T. 196.43 167.43 . O.D. 196.83 167.53 F> Francs to £1 N.Z. T.T, 146.72 134.22. O.D. 147.97 134.24 Germany— Reichsmarks to £1 T.T. to £1 T.T. Greece — Drachmae „„ to £1 N.Z. T.T. Q.D. ■ Holland—- • Florins to £1 N.Z. T.T. 7.046 6.296 O.D. 7.086 6.208 It lSreT to £1 N.Z. T.T. O.D. Ja Florins to £1 N.Z.' T.T. 6.996 6.246 O.D. 7.036 6.248 ■Norway— Kroner to £1 N.Z. T.T. 16.063 14.613 . O.D. 16.123 14.616 Noumea — Francs to £1 N.Z. T.T.'159.22 125.47 O.D. 160.72 125.51 Papeete— Francs to £1 N.Z. T.T. 156.22 126.22 O.D. 157.72 126.26 Sweden — Kronor to £ 1 N.Z. T.T. 15.471 13.996 O.D. 15.531 13.999 Switzerland— Francs to £1 N.Z. T.T. 16.309 14.059 O.D. 16.409 . 14.962 Hong Kong— ■ ■ ■ „ . , - N.Z. pence to dol. T.T. Nominal O.D. Nominal In NZ. pence T.T, 21 11-16 23 3-32 O.D. 21 21-32 23 3-32 Spence to yen T.T. ± . 188-Q Manila— N.Z. pence to peso T.T. O.D. Shanghai— ' __ N.Z. pence to dol. T.T. S N B Z?pence to dol. T.T. 33 25-32 3613-64 O.D. 33 11-16 38 13-64 ASSOCIATED BANKS* DOLLAR RATES ■■ - ••“ 7- ' The Associated Banks (other than the Bank of New South ,Wales) quoted the following rates yesterday on a Now Zealand. currency basis.. They are-subject to alteration witiioiat •no tlce XJ.S.A. Canada. (Dol. to £1 N.Z.) Selling— T.T. .. 3.358 3.41 i . O.D. .. .. 3.35| 3.341 Buying— T.T. ~ - .. .3.54 3-18 3.60J O.D. .. ~ 3.588 3.64 9-16 POWER BOARD’S DEBENTURE ISSUE . , HASTINGS. August 31. Money for the Hawke’s Bay Electric Power Board’s £94,000 debenture loan now amounts to £74,300. This amount has been subscribed in two and A hall weeks.