GOLD HELD BY AUST.
Further Drop Last Week
(N.Z. Press Assn.—Copyright)
CANBERRA, April 13.
Gold and foreign exchange held by the Reserve Bank fell a further £9.lm to £689.9m during the week ended last Wednesday, April 7. This follows a drop of £20.3m in the previous week, and brings the total decline in the last six weeks to £57.7m.
The funds are now £102.8m below their level of June 30 last.
Australia’s adverse trade position and a fall-off in capital inflow are again understood to be the main reasons for the continued decline in the funds.
The bank’s holdings of statutory reserve deposits of trading banks fell by £24.4m to £361.3m during the week after a 1 per cent reduction in tne deposit ratios of the banks.
Australian Government securities held by the bank eased £l2m to £331.8m.
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Bibliographic details
Press, Volume CIV, Issue 30725, 14 April 1965, Page 17
Word Count
138
GOLD HELD BY AUST.
Press, Volume CIV, Issue 30725, 14 April 1965, Page 17
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