B—l6

EXCHANGE CONTROL TRANSACTIONS For the financial year ended 31st March, 1950, receipts of foreign exchange by theNew Zealand banking system exceeded payments by £541,000. This surplus compares with an adverse balance of £1,891,000 for the previous financial year. The following table sets out in detail the Dominion's external receipts and payments : for the past two years :

Exchange Control Transactions* (£000)

* In this table foreign currencies have been converted into New Zealand currency at the rate of exchange ruling at the time of each transaction—viz., on the basis of £(N.Z.)125 = £(stg.)loo up to and including 19th August, 1948, and thereafter on the basis of parity with sterling. t Excluding interest and remittances for imports under departmental certificates but including remittances for general purposes, a substantial portion of which is used in payment for Government imports.

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Year Ended 31st March, 1949. 1950. Current items— Receipts Exports Other trade transactions Commissions, royalties, and insurance Donations and allowances Travellers' expenses Interest and dividends Legacies Private debts due in New Zealand New Zealand Government receipts n.e.i. 143,896 8,187 828 1,080 787 1,015 1,345 782 577 154,717 5,338 1,208 1,309 1,147 1,102 1,183 642 1,080 Capital items Unidentified 158,497 i 11,385 167,726 7,588 327 Total 169,882 175,641 Current items— Payments Imports Other trade transactions Commissions, royalties, and insurance .. .. Donations and allowances Travellers' expenses Interest and dividends Legacies Private debts due overseas Government paymentsf Film hire and entertainments 109,025 5,593 1,441 1,225 2,645 6,3771,588 3,534 22,077 627 122,797 6,198 2,075 1,327 4,859 6,140 1,413 1,310 17,606 675 Capital items — Debt repayment — Government Local body Other capital payments .. .. 154,132 3,242 1,485 12,914 164,400 1,832 697 8,171 Total 171,773 175,100