RESERVE BANK

Dominion, Volume 28, Issue 109, 1 February 1935, Page 14

RESERVE BANK

Assets and Liabilities STATE DEPOSITS HIGHER The 26th weekly statement of assets and liabilities of the Reserve Bank of New Zealand as at the close _of business on Monday, January 28. 1935, is as follows: —

£27,073,024 S 7 Proportion of reserve (No. 8 less No. 6) to notes and other demand liabilities, 97.44 per cent., compared with 97.53 per cent, on January 21 and 98.18 per cent, on January 14. The principal changes this week are on the liabilities side. Government deposits at £8.294,734/18/4. show an increase of £384,976/5/10. Trading hanks’ deposits have decreased by £315,834/14/5, and stand at £7.687,072/1/4. Other demand liabilities have increased by £43/8/1 to £5766/15/9. Other liabilities at £51,476/13/2 show an increase of £l9Ol/4/2. The note issue at £9,533,974 has decreased by £36,319. Sterling exchange at £21,867,952/7/6 shows a small increase of £8519/7/1. The bank’s gold holding remains unchanged at £3,001,731. Subsidiary coin has increased by £506/1/5 to £190.723/1/-. Investments at £1,971,784/4/10 show a further increase of £11,072/10/8. Other assets have risen by £14,669/4/6 to £40,833/15/3. The statement balances at £27,073,024 8/7, an increase of £34,767/3/8. FOREIGN EXCHANGE On New Zealand Currency Basis The Bank of New South Wales, Wellington, quoted the following rates for their purchases and sales of foreign exchange yesterday:—

T.T. represents telegraphic transfers. O.D. i epresenis ion demand transactions. The above rates are subject to alteration without notice. New Zealand Pound Abroad Based on the lates quoted yesterday by the Bank of New South Wales, £1 New Zealand was worth approximately: 16/1 in London. £l/0/1 in Australia. 15/10J in U.S.A. 15/lOif in Canada. !)/6 in France. 9/10} in Italy. 9/4J in Germany. 9/4‘J in Java.' £l/7/11 iu Japan. Position of Sterling By Telegraph. —Press Assn.—Copyright. London, January 30. The following rates on foreign exchanges were current to-day, compared with those rilling on January 29:—

tSolle'rs, ofllclnl. ‘Sellers. jl’ar, 8.2,'J 31-32 since dollar devaluation on February 1. 1934. Gold and Silver. J.ondon, January 30. Gold.—£7/2/1 per line ounce. Silver—Cash, 21 ‘J-10d. per ounce; forward, 3-1 11-l Cd.

liabilities— O 0 1. Paid-up capital 500.000 0 Coneral reserve fund . 1.000.000 0 0 3. 4. Bank notes 9,u33,974 Demand liabilities — 0 0 IS 1 (b) Banks ' 7,687.072 1 15 4 9 — - (x Liabilities in curreneies other than N.Z. 7 Other liabilities 51,470 13 2 £,27,073,024 8 7 C s. d. assets— 8. Reserve— (a) Gold 3,001,731 0 0 (b) Sterling exchange 21,867,052 6 (c) Gold exchange .... — 9. Subsidiary coin 190,723 1 0 10. Discounts— (a) Commercial and agricultural bills . 1 •— (b) Treasury and local Jjody bills 11. Advances— (a) To the State or State undertakings tb) To other public authorities —— (c) Other — 12. Investments 1.071,784 4 10 13. Bank buildings —— 14. Other assets 40,833 15 3

Buying. Selling. France — Francs to £1 N.Z T.T. 60.38 59.08 O.D. 60.68 59.13 Noumea— Francs to £1 N.Z T.T. ' 61.33 58.33 O.D. 61.73 58.38 Papeete— Francs to £1 N.Z; .... T.T. 61.33 58.33 O.D. 61.73 58.38 Belgium— Belgas to £1 N.Z T.T. 17.263 16.563 O.D. 17.363 16.578 Germany— Reichmarks to £1 N.Z. T.T. 9.610 O.D. — 9.615 ItalyDire to £1 N.Z T.T. 45.45 O.D. —- 4p.49 Switzerland— Francs to £1 N.Z T.T. 12.38!) 11.989 OD. 12.461 11.999 Holland— Florins to £1 N.Z T.T. 5.958 5.708 O.D. 6.008 5.712 Java— Florins to £1 N.Z T.T. 5.915 5.690 O.D. 5.965 5.694 Japan— N.Z. pence to 1 yen T.T. 17! Shanghai— N.Z. pence to 1 dollar T.T. 2H 22 11-16 O.D. 21i 22§ India and Ceylon— N.Z. pence to 1 rupee T.T. 22 13-32 223 p.D. 22 9-32 22 11-16 Hong-Kong— N.Z. pence to 1 dollar T.T. 26 7-32 27 9-32 O.D. 26 3-32 27 7-32 Singapore— N.Z. pence . to 1 dol. T.T. 34 7-16 O.D. 34 5-16 35 5-16

Jan. 30. .Ian. 20. Par. X. York, dol. to £ 4.871-8 4.871 £4.866 Montreal, dol. to £ 4.875 4.87} 4.866 Paris, fr. to £ 74 11-32 71 9-32 124.21 Brussels, bel. to £ 21.01 21.02 ” 35.00 Geneva, fr. to £ 15.15 15.145 Amst’dnni, fl. to £ 7.245 7.241 12.107 Milan, lire to £ 57.37’5 57.375 92.46 Berlin, inks, to *12.11 12.21) 20.43 St'liolm, knr. to £ 1'1.31)3 19.395 18.159 C’lmgen, knr. to Oslo, knr. to £ 22.393 £ 19.905 22.395 19.995 18.159 18.159 Vienna, r.cligs. to £ 20.511 20.50 3 4. i>8. i Prague, knr. to £ 117.25 117.50 161.25 Ilcl’t'ors. inks, to £ 220.51) 226.50 193.23 Madrid, lies, to £ 35.875 35.875 Lisbon, esc. to Athens, drach. to ,£ 110.125 110.125 HO £ »51(! *517 27(1.31 Belgrade, din. to £ 21(1 217 Bucharest, lei to £ 487.50 400 813.00 Warsaw, zloty to £ - — 13.38 Rio de J., p. to mil. Hi B. Aires, p. to peso +36* tn t36J 5.81)9 47.02 M. Video, p. to peso 431) <-8 i’39} 51 18 Calcutta, p. to rtip. 183-3-18 5-32 Shanghai, p. to dol. 1<J 17} If.-Kong, p. to dol. 215-8 21 5-8 — Y’hania, p. to yen 14 'Batavia, fl. to £ 14 7.245 24.582 12.107