RESERVE BANK RETURN

Poverty Bay Herald, Volume LXV, Issue 19803, 3 December 1938, Page 4

RESERVE BANK RETURN

EXCHANGE £200,000 LOWER VALUE NOW £4,828,000 DAIRY ADVANCES UP The Reserve Bank return for the week ended Monday, 'November 28, has been gazetted. The statement is balanced at £24,976,207, or £134,503 more than at the close of the previous week.

The. sterling exchange reserve is lower by £200,835 than it was a week before, this being the smallest fall in any week since that ended September 19. Advances to the Primary. Produce Marketing Department are £323,408 higher, but those for other purposes remain, unchanged at £8,500,000,.. The note issue; which showed an Increase of £75,020 last week, has risen by a further £91,092. This can- be taken as an early sign of the holiday demand •for cash currency. Government deposits are £769,423 higher, while those of the trading bands have fallen by £411,794. Other demand liabilities are £321,208 lower. The principal items in this week’s return are compared with those at the corresponding date last year in .the following table: — (ooo’s omitted)

1938 1937 Variation Notes £ 14,587 £ 13,319 £ +1,268 Deposits— State Banks 2;998 5,135 5,189 6,729 —2,191 —1,594 Exchange .. 4,828 16,587 —11,759 Advances — Produce .. Other 5,022 8,500 4,591 700^ +431 +7,800 Ratio (per cent) 32.685 74.768 —42.083