Money market
Interest rates in the shortterm money market are rising, because of a shortage of money, according to Mr V. G. Duffy, of Rediscount Acceptance (New Zealand) Ltd.
The squeeze on liquidity extends even to some banks, he said. The commerical bill rate is also rising; many dealers have a substantial portfolio of bil' and are trying to sell. I Current bill rates are: 30 days, 14 per cent: 60 days, 14.15 per cent; 90 days, 14.25 per cent. ■ The extent to which companies have been borrowing ij shown by the increased volume of bills outstanding: in August the total amount was almost S4OOM — rough ly double the amount of July last year.
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Press, 20 October 1980, Page 26
Word Count
114Money market Press, 20 October 1980, Page 26
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