Deficit of $200M
PA Wellington ’■ Overseas exchange trans- •; actions for the month of ' August recorded a current account deficit of S2OOM compared with a deficit of -■ SBBM in August 1984, the \ Reserve Bank said. For the year to August 1985 the current account J ‘ deficit rose to $2590M from «• $2477M recorded in the year ’ to July 1985. Official overseas reserves fell by S2I4M in August 1985 and stood at $2978M at the end of the month. The bank said it should be noted that the statistics are only broadly indicative of ’ trends in the external ac- ■ counts .and that this has particularly been the case ” since the removal of ex- i change controls in Decern- ’ ber 1984 and the associated ‘ flexibility this gave export- ’ ers and importers in repa- / triating or remitting foreign exchange. “
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Press, 14 October 1985, Page 34
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134Deficit of $200M Press, 14 October 1985, Page 34
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