Overseas Reserves Still Mounting
New Zealand's overseas reserves gained a further £l.9m in the week ended May 6, when they totalled £ 87.1 m, according to pfeliminary figures released yesterday by the Reserve Bank. The latest figure represents a gain of £ 38.3 m on the comparable 1958 figure, but is still £ 16.2 m below the comparable 1957 figure. Since early February this year net overseas assets of the New Zealand banking system have followed a course almost parallel to their 1957 path. In 1957 the increase , over the four months was £ 25.3 m, and there was a further increase of £9.9m to the seasonal peak in June. The increase in the last four months this year has been £ 26.8 m.
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Press, Volume XCVIII, Issue 28896, 16 May 1959, Page 16
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119Overseas Reserves Still Mounting Press, Volume XCVIII, Issue 28896, 16 May 1959, Page 16
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