RESERVE BANK

Dominion, Volume 30, Issue 260, 30 July 1937, Page 14

RESERVE BANK

Decrease in Dairy Advances

STERLING EXCHANGE HIGHER 'The weekly statement of assets ami liabilities of the Reserve Bank of New Zealand as at the close of business on Monday, July 26, is as folows:— LIABILITIES.

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 79.576 per cent., compared with 78.296 per cent, on July 19. Advances to the State dairy industry account show a decrease of £427,187, the total now being £4,277,733. Advances to the State for other purposes are unchanged at £300,000. ■Sterling exchange amounts to £20,859,070, a further increase of £269,242. Gold remains unchanged at £2,801,791. Subsidiary coin amounts to £112,126, a decrease of £O6O. Investments remain unchanged at £2,906,450. Other assets total £81,842, an increase of £18,863. The note issue amounts to £12,590,827, an increase of £10,185. Demand liabilities to the State have increased by £296,977, and now total £6,418,396. The trading banks’ reserve balances at £9,761,806, show a decrease of £446,473. Other demand liabilities total £962,458, a decrease of £2934. Other liabilities at £105,524. show an increase of £2502. The statement balances at £31,339,012, a decrease of £139,743. FOREIGN EXCHANGES Position of Sterling London, July 28. the following mean closing rates on foreign ex-changes were current to-day compared with those ruling on July 27:—

’ Uuofflcial. f Official. London, July 28. O°ld.—£6/19/9 an ounce, fine. Silver. —Spot, 20d. an ounce; forward, 20d. On New Zealand Currency Basis The Bank o f New South Wales, Wellington, quoted the following rates for their purchases ami sales of foreign exchange yesterday:— •

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

N.Z. Pound Abroad Based on figures quoted by the Bank of New South Wales, the New Zealand pound, compared with its original par value, is equivalent to approximately:— £lO/1 In London. £l/0/1 in Australia. Ul/4J in U.S.A. l<i/43 in Canada. 17/01 In France. 10/43 in Italy. 0/8 in Germany. 11/10} in Java. £l/8/15 ta Japaitv.

L S. d. 1 General Reserve Fuud 1,500,000 0 0 2. Bank Notes 12,590,827 10 3. Demand Liabilities- — (a) State 6,418,396 0 1 (b) Banks ........ 9,761,80i> 17 1 (e) Other 962,458 11 0 4. Time Deposits .... — 5. Liabilities in Currencies other than N.Z. Currency .... 6. Other Liabilities . . 105,524 10 £31,339,012 1 0 ASSETS. 1 £ s. d. 7. Reserve — (a) Gold 2,801,791 0 0 (b) Sterling Exchange 20,859,070 7 iJ (c) Gold Exchange . — 8. Subsidiary Coin . . 112.125 17 2 9. Discounts — (a) Commercial and Agricultural Bills (b) Treasury and Local Body Bills .. 10. Advances— (a) To the State or State Undertakings— (1) Dairy Industry Account . 4.277,732 19 8 (2) For Other Purposes- . . . 300,000 0 0 (b) To other Publie Authorities ..... ' — (c) Other — 11. Investments .... 2,906.450 0 0 12. Bank Buildings .. — 13. Other Assets .... 81,841 17 0 £31,339,012 1 0

•» Par. J uly 27. duly 28. «. York, dol. io £ 4.860 4.97 13-11! Montreal. dol. to 4.97 9-16 £ 4.860 4.97J Paris, fr. to £ 124.21 132 03-64 132 53-64 Brussels, bel. to il 48.611 29.57 29.545 Geneva, fr. to Amst'dam. fl. to £ 25.225 21.68 21.68 £ 12.107 9.01J 9.038 Berlin, inks, to £ 24.43 12.37 1 12.36? 19.395 St’holm, knr. to £ 18.159 19.395 C’hagen, knr. to Oslo, knr. to £ 18.159 22.40 22.40 £ 18.159 19.90 19.90 Vienna, scligs. to £ 34.585 26.50 26.59 Prague, knr. to £ 134.25 142.75 142.75 Hel’fors, inks, to £ 193.23 220.125 226.125 Madrid, pes. to £ 25.225 ' — Lisbon, esc. to £ 100 .1103-16 110 3-16 Milan. lire to 1 • 92 91.625 94 9-10 Athens, drac. to £ 375 *547} ♦547} Bucharest, lei to £ 813.00 ♦670 •670 Belgrade, din. to £ 276.31 2116.50 216.50 Rio de J., p. to mil. B. Aires, p. to pesa 4.899 47.62 f44 +4} M. Video, p. to peso 51 T39J 39} Calcutta, p. to rup. 18 IS} 18} Shanghai, p. to dol. 18 14.25 14.25 II.-Kong, p. to dol. — 14 21-32 .14 23-32 Y’hurna, p. to yen. 24.582 13 31-32 13-31-32 Batavia, fl. to £ 12.107 8.995 9.00

New Zealand on Buying. Selling London T.T 121 124/10/- £ N.Z. to £stg. 10(1 O.D. T.T. O.D. 123/10/ 124/8/9 Australia £A to £N.Z. 100 101 100/10/. Fiji £F to £N.Z. 100 T.T. O.D. 1)0/7/ 1> 89 New York T.T. •1.0238 >i.98G8 Doi. to £N.Z. . O.D. 4.0338 3.9908 Montreal t.t. 4.0240 3.11891 Doi. to £N.Z. . O.D. 4.0365 3.993(1 Austria T.T. — 20.83 Seligs, to £N.Z. O.D. — 20.84 Belgium T.T. — 23.003 Bel. to £N.Z. . O.D. — 23.014 Czechoslovakia ... T.T. — 113.77 Crs. to £N.Z. . 0.1). — 113.82 Denmark T.T. 18.203 17.893 Kt. to £N.Z. . O.D. 18.263 17.81)9 T.T. 105.90 Frs. to £N.Z. . O.D. • — 105.04 German v T.T. —• 9.864 Mks. to £N.Z. . O.D. — 9.869 ' Holland T.T. -—■ 7.211 • F1S. to £N.Z. . O.D. — 7.215 Italy T.T. — 75.80 Lire to £N.Z. . O.D. — 75.85 Java T.T. S 7.182 FIs. to £N.B. . O.D. 7.18(1 Norway T.T. 1(1.182 15.892 Kr. to £N.Z. . O.D. 1(5.242 15.898 Sweden T.T. 15.786 15.491 Kr. to £N.Z. .. O.D. 15.840 15.497 Switzerland T.T. — 17.329 Frs. to £N.Z. . O.D. — 17.334 Noumea T.T. — 105.15 Frs. to £N.Z. . O.D. — 105.19 Papeete T.T. — .105.10 ..Frs. to £N.Z. . O.D. —— 105.14 Hong-Kong .... T.T. 17 61-64 18 25-64 N.Z. d. to Doi. . O.D. 17 59-64 18 25-64 India and Ceylon . T.T. 223 22 21 -32 N.Z. d. to Rup. O.D. 22 11-32 22 21-32 Japan T.T. — 17 15-32 N.Z. d. to Yen . O.D. 17 15-32 Shanghai T.T. 17 27-32 17 55-64 N.Z. d. to Doi. . O.D. 17 25-04 17 55-64 Singapore T.T. 34 23-32 35 13-64 N.Z. d. to Doi. . O.D. 34S 35 13-64 Chefoo T.T. 17 13-32 18 1-32 N.Z. d. to Doi. . O.D. 17 23-64 18 1-64 Manila T.T. 29 49-64 30 17-64 N.Z. d. to Peso . O.D. 29 43-64 3017-64

U.S.A. Doi. Canadian Doi. Selling: (Per £1 N.Z.) (Per £1 N.Z.) T.T. n.nsj 3.0815-16 O.D. 3.09} 3.09| Buying: O.D ■1.031! 1.0311-16