HOLIDAY SPENDING
EFFECT ON NOTE ISSUE TOTAL REACHES £16,299,000 RECORD IN. BANK'S HISTORY The holiday demand for cash currency is reflected to a marked extent in the note issue of the Reserve Bank. The return published to-day, showing the position at the close of business on Monday last, records an increase of £1,102,978 in the value of notes issued, compared with the level on the previous Monday, making the latest total £16j298,740. The week before that there was an increase of £500,780, following a rise of £107,618 in the return as at December 5. The value of the total issue since December 5 and the increases week by week since November 28 are as follows: — Week ended Issue Increase December 5 .. £11,004,982 £107,618 December 12 .. 15,105,762 500,780 December 19 .. 10,'J05,740 1,102,978 Thus, from November 28 to December 19 there has been an aggregate increase of £1,711,376 in the value of the issue. The issue at December 20 last year was £15,094,214, or £1,204,526 less than at the corresponding date this year. The present is substantially the highest total of notes since the Reserve Bank opened.
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Bibliographic details
New Zealand Herald, Volume LXXV, Issue 23228, 23 December 1938, Page 10
Word Count
185HOLIDAY SPENDING New Zealand Herald, Volume LXXV, Issue 23228, 23 December 1938, Page 10
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