RISE IN STERLING FUNDS
RESERVE BANK FEATURES The continued expansion of the holdings of sterling exchange is again a feature of the latest Reserve Bank return. For the week ended March 12 sterling exchange holdings of the bank moved up to the new peak of £48,342,430. a gain of £262,391 over the previous week. Another feature of the bank's return is the marked movement in deposits, reflecting the heavy income tax payments which were made during the week which the return covers. The rise of £7,962,158 in Government deposits, accompanying a corresponding fall of £7.763,461 in the holdings of the trading banks, can be taken as the effects of these payments.
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Otago Daily Times, Issue 25799, 21 March 1945, Page 4
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111RISE IN STERLING FUNDS Otago Daily Times, Issue 25799, 21 March 1945, Page 4
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