COMMERCIAL

Evening Post, Volume CXXXII, Issue 82, 3 October 1941, Page 8

COMMERCIAL

RESERVE BANK

STERLING EXCHANGE

REDUCED

The return for the Reserve Bank of New Zealand for the. week ended September 29, 1941, compared with that for the week before shows a reduction in sterling ' exchange of £1,243,753 (In New Zealand currency), the return showing £14,747,969, compared with £15,991,722 at September 22, £14,512,888 at September 15, and £9,987,894 at September 30, 1940. The bank-notes at £22.231,460 are lower for this week by £106,387, and compare with £20,108,913 for the corresponding period, September 30, 1940. Advances to the Marketing Department this week at £6,538,715 are reduced on the week by £148,669; but at September 30,. 1940, they amounted to £2,975,021. Advances to the Stata for purposes other than marketing are unchanged this week at £12,500,000; but they stood at £25,040,000 at September 30, 1940. Movements In the return for this week are a, foHows:- UAB|UTIES>

•Increase. tDeorease. Proportion of reserve to notes and other demand liabilities, 44.347 per cent., compared with 45,637 per cent, for the week ended September 22. 1941, and 30.84 per cent, for the week ended September 30, 1940. The statutory limit is 25 per cent.

£NZ 8. d. General reserve . 1,500,000 0 0 Bank-notes 22,231,460 0 0 Demand Liabilities— State 7,194,190 18 2 Banks 9,254,423 15 11 Other 863,268 12 11 t'urrencies other than N.Z 13,629 19 1 Other liabilities 989,976 19 5 £NZ Unchangei flO6,38! - t528,52' tl,065,27J •100,421 t3,62: t228,82I £NZ42,046,950 5 6 f 1,832,211 ASSETS. £NZ^ s. d. £NZ Reserve— Gold 2,801,874 10 0 Unchange* Ster. exchange 14,747,968 15 9 f 1,243,75! Subsidiary coin . 46,297 19 8 *1,35! Advances to State— . Marketing ... 6,538,714 12 9 f 148,66! Other purposes 12,500,000 0 0 Unchange< Investments .... 3,822,858 14 1 Unchangec Other assets .. 1,589,235 13 3 t241,14! £NZ42,046,930 5 6 tl,832,2i: