OVERSEAS FUNDS
IMPROVEMENT SHOWN.
(By Telegrapn—Press Association.) ■WELLINGTON, This Day.
A slight improvement in the overseas funds of the Reserve Bank and the six trading banks is shown in the latest returns. On Monday the sterling exchange funds of the Reserve Bank stood at £5,580,075, an increase for the week of £23,278. Deducting overseas liabilities, the bank’s net overseas assets at the beginning of this week amounted to £5,510,461, compared with £5,462,249 on July 10, an increase of £48,212.
The returns of the six trading banks as at June 26 show their total overseas funds to have been £6,136,062, as against £5,749,730 on May 29, an increase of £386,332. On June 26 the trading banks’ overseas liabilities in respect of New Zealand business amounted to £2,591,825, thus making their net overseas assets £3,544,237. Compared with the low level of £2,872,831 on May 29, there has been an increase in the banks’ net overseas assets of £671,406. At June 26, the net overseas assets of the Reserve Bank amounted to £5,543,984.
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Wairarapa Times-Age, 21 July 1939, Page 2
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170OVERSEAS FUNDS Wairarapa Times-Age, 21 July 1939, Page 2
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