COMMERCIAL

Evening Post, Volume CXXXIV, Issue 101, 26 October 1942, Page 3

COMMERCIAL

RESERVE BANK

STERLING EXCHANGE

INCREASE

Details of the Reserve Bank.of New Zealand return for the week ended October 19, 1942, compared with those for the week ended October 12, are:—

| Liabilities— £N2 £NZ General reserve . 1,300,000 fl 0 Unchanged Bank-notes .... 27,293,941 0 0 *130,103 Demand Liabilities— State 9,038,926 6 5 U,285,122 Banks 22,567,220 6 1 '■1,164,375 Other 1,442,969 14 11 *616,615 Other currencies 37,214 12 11 f153,816 Other liabilities 1,330,328 16 4 *5,564 £63,210,600 16 S *447,719 Assets— £NZ £NZ Reserve — Gold .... 2,801,877 10 0 Unchanged Ster. exchange 27,393,210 8 X *1,040,284 Subsidiary coin . 39,-177 4 7 * 11,277 Advances to State — Marketing ... 2,659,558 19 0 t874,514 Other purposes 24,300,000 0 0 Unchanged Investments ... 4,150,204 18 4 UOS Other assets .... 1,866,271 16 6

£63,210,600 16 8 »447,719 *Jncrease. tDecrease. i Proportion of reserve to notes and demand i liabilities 49.977 per cent., compared with 1 18.502 per cent, for the week ended October 12. The statutory limit is 25 per cent. Principal returns for the week ended October 20, 1941, were: Demand liabilities to State, £7,764,440, and to the banks, £9,382,409; sterling exchange (N.Z. currency), £14,594,989; the l bank note issue stood at £22,210,387; advances to Marketing Department were £6,399,871, and to the State for other purposes £13,500,000. I For purposes of comparison, the holdings of ! sterling exchange by the Reserve Bank at Octoiber 21, 1940, amounted to £8,820,764, and at October 23, 1939, to £5,605,045, an increase from 1939 to date of £16,183,120.