RESERVE BANK

Dominion, Volume 30, Issue 159, 2 April 1937, Page 14

RESERVE BANK

Sterling Exchange Higher DAIRY ADVANCES UP The weekly statement of assets and liabilities of'the Reserve Bank of New Zealand as at the close of business on Monday, March 29, is as follows:— LIABILITIES. £ s. d. 1. General reserve fund 1.500,000 O 0 2. Bank-notes 13,179,255 (I 0 3. Demand liabilities — (a) State 7,85i,546 16 1 (bl Banks 8,880.493 18 9 (c) Other 102,794 9 4 4. Time deposits 5. Liabilities in currencies other than New Zealand cur-

Proportion of reserve (No. 7 less. No. 5) to notes and other demand liabilities, 72.75 S per cent., compared with 73.178 per cent, on March 22. Sterling exchange shows a further increase of £232,351. and now stands at £19.098,904. Advances to the State dairy industry account total £6,329,783, an increase of £277,455. Advances, to the State for other purposes remains unchanged at £BOO.OOO. Advances other than to the State, which last week stood at £500,000. have been repaid and now stand at nil. Gold at £2,801,791 remains unchanged. Subsidiary coin amounts to £153,368, a decrease of £2077. Investments are unchanged at £2,453,050. Other assets total £119.855, an increase of £34,650. The note issue shows a further increase of £42,318, the total now being £13,179,255. Demand liabilities to the State total £7,887,847, an increase of £2322. The trading banks’ reserve balances amount to £8,880,494, an increase of £407.706. Other demand liabilities at £152.794 have increased by £38,764. Other liabilities amount to £156,361, an increase of £2130. The statement balances at £31,756,751, an increase of £493,220. The Money Market By Telegraph.—Press Assn.—Copyright. London, March 31. Diecount and short-loan interest rates are unchanged as follows: Day-to-day loane-, i per cent.; fine trade bills, three months, 2 to 24 per cent.; bank bills, three months, 9-16 per cent.; Treasury bills, six months. 5-8 per cent.: Treasury bills, three months, J to 9-16 per cent. New York, March 31. Call money is quoted at 1 per cent. FOREIGN EXCHANGES Position of Sterling By Telegraph.—Press Assn.—Copyright. London, March 31. The following mean closing rates on foreign exchanges were current to-day compared with those ruling on March 30:—

‘Unofficial. tOtlieial. London, .Marell 31. Gold. —£7/2/2} an ounce, line. Silver.—Spot. 20 15-J6d. an ounce; forward, 20 15-10 d.

On New Zealand Currency Basis

The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchange yesterday

New Zealand Buying. Selling, on London T.T. 121 124/10/£N.Z. to £Stg. 160 O.D. 123/10/- 124/8/9 Australia T.T. —

The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates yesterday on a New Zealand currency basis. They are subject to alteration without notice.

rency 6. Other liabilities . .. 136,360 12 4 £31 ,756,750 16 6 ASSETS. 7. Reserve— £ d. (a) Gold - ,801,791 0 0 (b) Sterling exchange 19,098,903 19 .J (c) Gold exchange . 8. Subsidiary coin . • ■ • 153,368 9 10 9. Discounts — (a) Commercial and agricultural bills (bl Treasury and local body bills .. 10. Advances —- (a) To the State or State undertakings— • (1) Dairy industry 16 account 0 ,329,782 I (2) For other pur0 purposes 800,000 O (bl To other public authorities (cj Other 11. Investments 2 ,453,050 0 0 12. Bank buildings .... 13. Other assets ...... 119,854 10 8 £31 ,756,750 16 6

Par. Mar. 30. Mar. 31. 1S. York, dol. to £ 4.866 4.SS 2332 4.89 1-10 Montreal, dol. to £ 4.866 ■i.ss i-.it; 4.88.11-16 Paris, fr. to Al 124.21 1 (Hi 21-04 100 21-04 Brussels, bel. to £ 48.6.11 29.03 29.045 Geneva, Ir. to £ —1>, J Jo 21.45 21.465 Amst’dam, fl. to £ 12.107 S.92J 8.93 Berlin, inks, to £ 20.43 12.15 12.155 St’holm, knr. to £ 18.159 19.395 19.395 C’hagen, knr. to £ 18.151) 22.40 22.40 Oslo, knr. to £ 18.151) 19.90 19.90 X ienna, sciigs. to £ 34.585 26.50 26.50 Prague, knr. to £ 104.25 140 140 3-10 Ilel’lors, inks, to £ 193.23 226.50 226.50 Madrid, pes. to £ »>“, __ Lisbon, esc. to £ ion 110 3-10110 3-10 Milan, lire to £ 92 9.875 92 15-10 Athens, tlrae. to £ , > j; i *5471 •5471 Bucharest, lei to £ 8.13.60 *670 *670 Belgrade, din. to £ 276.31 213 213 Bio de J., p. to mil 5.899 1'1.1 fl J B. Aires, p. to peso 47.62 M. Video, p. to peso 51 f3!»5 t39 S Calcutta, p. to rup. 18 18| Shanghai, p. to did. — 14 17-1 32 14 17-32 II.-Kong, p. to dol. —— 14 15-16 11 15-16 Vhatna, p. to yen. 21.582 14 14 Batavia, fl. to £ 12.107 8.89 8.89

£A to £N.Z. 10.1 O.D. 101 100/10/Fiji T.T. — — £F to .1! N.Z. HD O.D. 90/7/6 89 New lorl t.t. 3.958.3 .3.9220 Doi. to AJ N.Z, O.D. 11.9708 11.9270 Montreal T.T. H.D57J1 11.9202 Doi. to AJ N .Z O.D. 3.9676 11.92.72 Austria T.T. — 20.58 Seligs. to £N.Z. O.D. — 20.00 Belgium £N.Z. .. T.T. — 211.191, Bel. to O.D. — 2.3.207 Czechoslovakia ... T.T. — 111.70 Crs. to £N.Z. .. O.D. 111.73 Denmark T.T. 18.203 17.893 Kr. to £N.Z. .. O.D. 18.203 17.903 France T.T. — 85.20 Frs. to £N.Z. .. O.D. — 85.24 Germany T.T. — 9.69.3 3Iks. to .Al N .Z. O.D. — 9.098 Holland T.T. 7.278 7.128 FIs. to £N.Z. .. O.D. 7.338 7.1.32 Italy T.T. — 74.47 Lire to AS N .Z. .. O.D. — 74.52 Java T.T. 7.24 9 7.089 FIs. to £N.Z. .. O.D. 7.309 7.093 Norway T.T. 10.181 15.891 Kr. to A- . O.D. 16.241 15.1)01 Sweden T.T. 15.785 15.490 K r. t o £N.Z. .. O.D. 15.845 15.500 Switzerland .... T.T. 17.425 17.155 Frs. to £N.Z. .. O.D. ,17.5.30 ,17.100 Noumea T.T. — 8,3.83 Frs. to £N.Z. .. O.D. — S3.8!) Papeete T.T. — 8.3.98 Frs. to AL N. Z. . . O.D. — 84.04 Hong-Kong .... T.T. 18 19-04.18 51-61 N.Z. d. to Doi. . O.D. 1817-64 18 25-32 India and Ceylon T.T. 228 22 21-32 N.Z. d. to Hup. O.D. 2211-32 24 41-04 Japan T.T. — 1715-32 N.Z. d. to I on .. O.D. — 17 29-64 Shanghai T.T. 17 29-32 1813-32 N.Z. d. to Doi. . O.D. 178 18 25-64 Singapore T.T, 34 23-32 ,35 1.3-64 N.Z. d. to Doi. . O.D. .34J 35 3-16 Chefoo T.T. 17 29-32 18 17-32 O.D. 1755-64 18 33-61 N.Z. d. to Doi. .

U.S.A. Doi. Canadian Doi. Selling (Per £1 N.Z.) (Per £1 N.Z.) T.T. 3.02J 3.91 J O.D. 3.1126 3.92J Buying O.D. ' IWJ 3.906