RESERVE BANK

Wanganui Chronicle, Volume 89, Issue 227, 25 September 1945, Page 8

RESERVE BANK

STERLING FUNDS INCREASE An increase in sterling funds of £639,093 during the seven days ended September 17 is shown in the Reserve Bank statement for that date. The statement is as follows: — LIABILITIES.

Proportion of reserve to notes and other demand liabilities was 72.846 per cent., compared with 72.440 per cent on September 10. The reserve on September 17 was £73,058,658, an increase of £625,973. A year ago the reserve was £28,388,594. Sterling exchange on September 17 was £70,262,379, an increase of £639,093. Liabilities in currencies other than New Zealand currency were £5597 (an increase of £119), thus making the bank’s net overseas assets £70,256,782, an increase of £625,975. A year ago these assets were £25,586,717. Advances to the State Marketing Department were £2,165,316, a decrease of £22,010. Advances to the State for other purposes remained unchanged at £17,000,000, against £33,735,000 a year ago. The note issue on September 17 was £41,217,117, an increase of £101,062 for the week. A year ago it was £33,786,168, and two years ago £26,856,971.

Demand liabilities to the State amounted to £6,112,968, a decrease of £1,527,307. The ; Aiding banks’ reserve balances tot ailed £52,137,075, an increase of £1,662,974. Other liabilities at £824,248 have increased by £64,875. The statement balances at £104,217,778, an increase of £330,903. DOW JONES AVERAGES. New York, Sept. 20.

KATES OF EXCHANGE Telegraphic rates of exchange on overseas centres on September 22,1945, as supplied by tiie Bank of New South Wales, Wellington, New Zealand, were:— On Buying. Sellins New York, dols. to £N.Z. 3.2542 3.2050 Montreal, dols. to £N.Z. 3.6039 3.5290 In., C’n., N.Z. d. to rup. 22 3.16 22 11-16 London, £stg.loo to N.Z. 124jj 125 Aust., £N.Z. to .EAIOO .. 1)0.10 100 Fiji, £N.Z.l'h) to £F .. 90 88 5-8 S.A., £S.A.IOO to £N.Z. 123 j 1’25 3-16 Chungking, N.Z. pence to Chinese nat. dol - 4<l Switzerland, francs to £N.Z 14.04 13.74 Sweden, kr. to £N.Z. .. 13.78 13.34

£ k. d. General reserve fund 1.500.D00 0 0 Bank note.; 41,217,117 10 0 Demand Liabilities— <a) State 6,112,968 2 4 (b) Ranks 52,137,075 5 3 (c) Other 824,248 10 6 Liabilities other than in N.Z. currency 5,597 18 4 Other liabilities 2,420,771 8 3 £ (N.Z.) 104,217,778 14 8 ASSETS. Reserve— £ ». d. (a) Gold 2,801,877 10 0 (b) Sterling exchange .. 70,262,379 6 <» Subsidiary coin 19.80G 17 5 Advances to the State— (1) Marketing Dept 2,165,316 8 0 (2) For other purposes .. 17,00'1,001 0 0 Investments 10,997,292 19 2 Other assets 971,105 14 1 £ (N.Z.) 104,217,778 14 8

Dov Jones a\erases (1926 equals 100) 20 rail 32 Share a roads. Industrials. Sept. ■ . •> ”>.4 6 176.61 1.330,000 Sept. ,. 65.41 178.99 l,34i),000 Sept. 13 ... . . 57.27 178.59 1,170,000 Sept. 17 ... ■. 55.62 174.75 900,000 Sept. 18 ... .. 56.84 177.58 1.163,000 Sept. 19 ... . . 58.29 180.22 1,500,000 — — STOCK AND SHARE INDICES, London, Sept. 22. Financial Timeu indice (1926 equals 100): — Govt. Home Indus. Gold aec’e. rails. triale. mines. Sept. 6 .... 115.5 61.2 141.5 16L8 Sept. ■7 115.54 62.4 141.5 161.0 Sept. 115.5 60.8 142.3 164.8 Sept. 19 .... 115.6 60.7 142.2 164.1 Sept. 20 .... 115.5 60.9 142. 3 164.3 Sept. 21 .... 115.6 61.2 142.4 164.9