RESERVE BANK

Dominion, Volume 30, Issue 266, 6 August 1937, Page 14

RESERVE BANK

Sterling Exchange Higher ; NOTE ISSUE INCREASES The weekly statement of assets and liabilities of the Reserve Bank of New Zealand as at the close of • business on Monday, August 2, is as follows.

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 79.676 per cent., compared with 79.576 per cent, on July 26. The note issue has increased by £39,744 and now amounts to £12,630,571. Demand liabilities to the State total £6,725,665, an increase of £307,269. The trading banks’ reserve balances are up by £32,037 and now total £9,793,843. Other demand liabilities at £568,335 show a decrease of £394,123. Other liabilities total £94,626, a decrease of £10,898. A further increase of £17,752 in sterling exchange brings the total up to £20,876,822. The gold holding is still unchanged at £2,801,791. Subsidiary coin at £110.162 shows a decrease of £1964. Advances to the State dairy' industry account have decreased by £64,033 and now amount to £4,213,700. Advances to the State for other purposes remain unchanged at £300.000. There is no change in investments at £2,906,450. Other assets total £104,115, an increase of £22,273.. The statement balances at £31,313,041, a decrease of £25,971. FOREIGN EXCHANGES Position of Sterling London, August 4. The following mean closing rates on foreign exchanges were current to-day compared with those ruling on August 3:

‘ Unofficial, t Otiicinl. London, August 4. Gold.—£6/19/64 an ounce, fine. Silver.—Spot, 20d. an ounce; forward, 20d. On New Zealand Currency Basis The Bank o f New. South AVales, Wellington, quoted the following rates for their purchases and sales of foreign exchange yesterday:—

Bank of Now South AVales) quoted the following dollar rates yesterday on a New Zealand currency basis. They are subject to alteration without notice. U.S.A. Doi. Canadian Doi. Selling: (Per Cl N.Z.) (Per Cl N.Z.) T T 3.99 3-16 3.99 J O.D. S.OOg 3.00 J Buying: O.D. 4.0313-10 4.0315-16 N.Z. Pound Abroad Based on figures quoted by the Bank of New South AVales, the New Zealand pound, compared with Its original par value, is equivalent to approximately:— 16/1 In London. £l/0/1 in Australia. 16/5 In U.S.A. 1(1/5 In Canada. 17/OJ In France. 16/u in Italy. 9/8 In Germany. 11/IOJ In Java. £l/8/ii in Japan.

liabilities. 1 General lieserve Fund 1,500,000 0 0 2. Bank Notes 12,630,571 10 0 3. Demand Liabilities— (a) State 0,725,664 16 7 (b) Banks 9,793,842 16 4 (cj Other ij68,335 8 2 4. Time Deposits^.... — 5. Liabilities in Currencies other than N.Z. Currency 6. Other Liabilities .. 94,626 4 7 £31,313,040 15 8 ASSETS. 7. Reserve— (a) Gohl £ 2,801,791 0 d. 0 (b) Sterling Exchange (c) Gohl Exchange . 20,876,822 8 6 8. Subsidiary Coin . 110,161 14 3 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 4,213,700 Account 3 3 (2) For Other Pur300,000 poses 0 0 (b) To other Public Authorities ..... — (e) Other — 11. Investments 2,906,450 0 0 12. Bank Buildings .. 13. Other Assets .... 104,115 9 8 £31,313,040 15 8

Par. Aug. 3. Aug. 4. N. York, dol. to £ 4.866 4.98 3-16 4.981-16 Montreal, dol. to £■ 4.868 4.981 4.981-16 Paris, fr. to £ 124.21 132 51-64 132 25-32 Brussels, bel. to £ 48.611 29.605 29.59 Geneva, fr. to £ 25.225 21.685 21.685 Amst’dam, fl. to £ 12.107 9.031 9.03 12.371 Berlin, mks. to £ 24.43 12.38 St’holm, knr. to 18.159 19.395 19.395 C’liagen, knr. to £ 18.159 22.40 22.40 Oslo, knr. to £ 18.159 19.90 19.90 Vienna, sehgs. to £ 34.585 26.50 26.50 Prague, knr. to £ 134.25 142.75 142 15-16 Hel’fors, mks. to £ 193.23 226.125 226.125 Madrid, pes. to Lisbon, ese. to £ 25.225 £ 100 1103-16 110 3-16 Milan, lire to £ 92 0411-16 94 11-16 Athens, drac. to £ 375 *5471 •5471 Bucharest, lei to £ 813.60 •670 •670 Belgrade, din. to £ 276.31 216 216 Rio de J., p. to mil. 4.899 Hi Hi B. Aires, p. to pesa 47.62 — — M. Video, p. to peso 51 t39J 395 Calcutta, p. to rup. 18 181 18J Shanghai, p. to dol. 18 . 14.25 14.25 H..Kong, p. to dol. — 14 29-32 14 29-32 Y’hama, p. to yen. 24.582 13 31-32 13-31-32 Batavia, fl. to £ 12.107 9.01 9.01

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