asked the Minister for Finance at what price per oz. the gold bullion of the Central Bank is valued in the statement of accounts of the Central Bank for the year ended 31st March, 1953, and what is its value at the current price for gold bullion.
Ceisteanna—Questions. Oral Answers. - Value of Gold Bullion.
The board of theCentral Bank, in accordance with Section 61 of the Currency Act, 1927, as amended by Section 63 of the Central Bank Act, 1942, carries out a half-yearly valuation of the assets of the Legal Tender Note Fund at values not exceeding the current market prices on the last day of February and the last day of August in every year. Apart from this provision, I have no information as to the price at which the bank's gold holding was valued in the Statement of Accounts at 31st March, 1953. According to available published information, the total gold holding of the Bank for the Legal Tender Note Fund and the General Fund at that date was 514,000 fine ozs., its sterling value at the current price of $35 per fine oz. being £6.4 million.
Where is it held?
That is a secret.