RESERVE BANK

Evening Post, Volume CXXXI, Issue 38, 14 February 1941, Page 5

RESERVE BANK

RISE IN STERLING

WEEKLY RETURN

An increase of £1,310,884 in the sterling exchange was the principal feature of the Reserve Bank of New Zealand return for che week ended February 10, 194.L On that date the figure, was £ 15,689,941, compared with £14,379,057 on February 3, and with £9,234,478 for the corresponding period (February 12) in 1940.

The note issue, at £21,472,103, is down by £200,958 on the previous week, though higher than the figure of £18,191,431 at this time last year. Advances to the State Marketing Department at £3,007,570, were higher | than the previous week by £104,485. while advances to the State for other purposes are unchanged at £23,690,000. The statement of the assets, and liabilities is all in New Zealand currency, including sterling exchange, and is as follows:— LIABILITIES. £NZ s. d. £\SJ General Reserve 1.500,000 0 0 Unchanged Bank-notes ... 21,-17^,103 0 0 1200,908 . Demand Liabilities— ■ ' • J State 10,056,616 3 II ♦2,0<!8 > 9.j5 Banks ..• 14,779,547 1 0 f027.0:39 Other 405,217 16 6 f2.792 Currencies other than N.Z 3t3,9!)l G 0 * 2 7.8 SO Other liabilities . 1,042,484 Oil *13,501 £NZ50,202,959 8 4 *1,2j9.578 ASSETS. £NZ s. (1. £.VZ Reserve— Gold 2.801,873 10 0 |2 Ster. exchange 15,089.940 .1.9 4 *1,310.884 Subsidiary coin 05,882 13 4 *8.906 Advances to Stale;— Marketing ... 3,007,570 0 5 "104,485 Other purposes 23,090,000 0 0 L'ucliauced Investments ... 3,777,184 13 1 Unolianjrert Other assets ... 1,220,507 12 .2 U64.695 £NZ50,252,959 8 4 *1,259,578 tßecrease. *Increase. Proportion of reserve to notes and other demand liabilities 38.711 per cent., compared with 36.964 per cent, for the week ended February 3, 1941, and 31.343j.f0r February 12, 1940. The statutory limit is 25 per cent.