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Dominion, Volume 32, Issue 39, 9 November 1938, Page 14

Movements in the net overseas assets of the Reserve Bank of New Zealand and of the six trading banks are shown on the above graph which is reproduced from the Statistical Summary of the Reserve Bank for October. The graph covers the position from August, 1934, to September, 1938. At the latter date net overseas assets of the Reserve Bank were £1 1,432,000, as against £19,066,000 at the end of September, 1937, and £16,836,000 at the corresponding date of 1 936. The net overseas assets of the trading banks at the end of last September were £5,594,000, as compared with £10,919,000 a year previously. Total net overseas assets of the Reserve Bank and the trading banks at the end of September were £17,026,000, compared with £29,985,000 at the end of September, 1937, a decrease of £12,959,000. Since the end of September there has been a further steep fall.