RESERVE BANK

Press, Volume C, Issue 29505, 5 May 1961, Page 16

RESERVE BANK

Further Rise In Sterling

Sterling and other exchange held by the Reserve Bank rose a further £o.9m to £9.3m in the week ended April 26. The previous week the rise was £4.4m. Trading banks’ deposits rose £7 6m. but trading banks' borrowing from the Reserve Bank rose £l.Bm to £B.3m. Borrowing by marketing organisations rose £4.2m. Main items from tne latest week's return, with the previous weeks figures, are as follows;

Mining Returns.—Following were the returns from dredges operated by Gold Mines of New Zealand, Ltd., on the West Coast for the month of April:—Arahura: 772 ounces of bullion from 232.000 yards of material, excavated in 444 hours. Kaniere: 791 ounces of bullion, from 311,000 yards of material, excavated in 452 hours.—F.O.O.R.

Liabilities Apr 26 Apr. 19 £noo Bank Notes . 55.534 83.528 Demand Liabilities— State 13,474 14,74.3 Marketing 1.536 1,539 Tr Banks 55,534 47,956 Other 900 1,030 Assets Reserves— Gold 315 315 Sterling 8,776 7,727 Other Exch. . 562 656 Investments— Overseas 31.267 31,267 In N.Z. 71.308 71.308 Advances— State 11 41 Mark. Org. . . 39,455 35,290 Other . 8.295 6.447 Other Assets— Gold 5,848 5.843 Other . 1.460 1.976