RESERVE BANK

Gisborne Herald, Volume LXVI, Issue 20098, 18 November 1939, Page 2

RESERVE BANK

4 ! STERLING £182,390 UP PRODUCE ADVANCES RISE INCREASE OF £809,000 (Per Press Association.) t WELLINGTON, last night. The Reserve Bank return for the week ended Monday, November 13, was gazetted last night. The statement is balanced at £36,279,804, or £931,348 more than at the close of the previous week* The sterling exchange reserve is £182,390 higher in value at £5,787,723 than iit was a week earlier. Notes and other demand liabilities have increased in level by £927,914 in the aggregate, mainly because of a rise of £780,076 in Government deposits. The ratio' is 25.121 per cent, compared with 25.367 per cent the wee}c before. Advances to, the Primary Products Marketing Department are £809,358 higher. Those for other purposes are unchanged at £16,875,000. Investments, which showed a fall of £315,000 in the previous return, have recovered by £ 57,758. The principal items in this week’s return are compared with those at the corresponding date last year in the following table: —

(000’s omitted) ‘ 1839 1938 Variation '.l £ £ £ Notes .. 17,391 14,421 -1-2,070 Deposits— State .. 2,867 2,593 +274 Banks .. 13,705 4,863 —f-8,842 Exchange .. 5,787 5,663 + 124 .Advances— k Produce .. 7,152 4,069 -1-3,083 1 Other .. 16,875 8,300 +8,575 (p.c.) .. 25.121 36.825 —11.704