MONEY MARKET.

Manawatu Standard, Volume XLIII, Issue 422, 13 June 1922, Page 5

MONEY MARKET.

Though the lusi hanking returns did not show nearly the usual measure ol improvement for the period, yet there was a fair improvement, and prospects arc now looking brighter. A further alteration in rates of exchange on London is reported this inomh, . selling rates being reduced and buying rates increased, which indicates that tlie proportion of funds held here by the banks has improved. The balance of trade continues on tlie right side, and the- balance is increasing. April exports were £5,293,011 and imports £2,536,479, leaving an excess of exports ol £2,756,532, making the total excess oi exports for the four months £6,138.072, which is highly satisfactory. May should also show a good balance, as exports have been fairly heavy. Tlie Post Office Savings Bank returns show a steady excess of withdrawals for the past three quarters, the net excess lor the year ending 31st March being £1,110,233, This is largely for investment in securities offering higher interest, but may also be indicative of unemployment, and harder lim.es. There arc, however, indications of improvement coming in I money conditions before very long', and before the year is out, we should not be surprised to see money more plentiful and available at easier rates. —N.Z. Trade Review, May 51.