INCREASED RESERVES
U.K. Finances Improve (N.Z.P.A Reuter —Copyright) LONDON, Jan. 5. Britain’s gold and convertible currency reserves increased in December by £6m to reach £1073m it was announced yesterday. The increase was achieved after repayment of some of the overseas loans which helped to sustain sterling during its year-long crisis.
It was the fourth month in succession when reserves had built up to such an extent that the ißank of England was able to reduce its overseas loan indebtedness. ! Decemloer was also the fourth month running that the reserves had increased, although December’s rise of £6m was the smallest of the four. The others were £6l m in September. £42m in Octoi ber, and £4lm in November.
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Bibliographic details
Press, Volume CV, Issue 30951, 6 January 1966, Page 6
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117INCREASED RESERVES Press, Volume CV, Issue 30951, 6 January 1966, Page 6
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