Exchange Rates

The following exchange quotations, gathered in Sydney, show the rates existing in Sydney on July 17:-

Fiji—Through Bank Of N.S.W.

And Bank Of New Zealand.

Australia on Fiji on basis of £100 Fiji: Buying £A111, selling £A113/10/-.

Fiji-London on basis £100 London.

Western Samoa—Through

Bank Of N.Z.

Exchange Australia, on Western Samoa, basis £100 Samoa—selling £A113/15/-, buying £A110/15/-.

Exchange Samoa on London, basis £100 in London: —

Direct Telegraphic Transfer.

Selling Rates.

Quoted by

Bank Of New South Wales

in Australia.

New Caledonia—Through

French Bank.

Drafts, Sydney-Noumea and Noumea-Sydney, are on the basis of current rate of exchange on Paris, less 1 per cent, either way. As quoted by the Comptoir National, in Sydney, and the Bank ct Indo-Chine, Noumea: On July 17, when the Aus tralian £ was nominally worth 59.9 francs, £100 Australian would purchase a credit in Noumea of 5,990 francs.

The rates between Sydney and Noumea are not made direct, but depend mostly on the Paris- London telegraphic rate, which fluctuates con stantly. It is usually much cheaper to transfer a large sum than a small sum between Sydney and Noumea, as the large sum can be made the subject of a cable to Paris, and its transfer arranged at a fixed price, while the small sum takes the chance of the market; and the banks, of course, guard themselves against loss.

New Guinea And Papua

Through Commonwealth

Bank.

From Australia, on Rabaul and Pt. Moresby, £1 per cent.

From Rabaul on London, same as Australia on London:— Buying T.T. £A125 equals £stg. 100.

Selling T.T. £A125/10/- equals £stg, 100.

Through Bank Of N.S.W.

Australia, on Papua and New Guinea, £1 per cent, premium each way, equivalent to commission of £1 per cent.

Papua and New Guinea, on London: Same as Australia on London, and vice versa.

Post Office Orders

The following are the rates for transfer of money between Australia and Pacific Groups through the General Post Office.

Papua, Mandated Territory of New Guinea.— Post Office commission 3d for each £ or fraction, with minimum charge of 6d. No exchange.

Norfolk Island.—P.O. commission 6d for £5 or fraction. No exchange.

British Solomon Islands, Gilbert and Ellice Islands, Tonga.—P.O. commission 4d for each £ or fraction for first £6; and 3d for each additional £, with a minimum charge of 9d. No exchange.

Fiji.—P.O. commission 3d for each £ or fraction with a minimum charge of 6d. Exchange is added at the rate of 2/8 per £A1, i.e., 1.6 d. for each 1/or fraction.

New Caledonia.—P.O. commission 3d for each £ or fraction, with minimum charge of 6d. Austra lian £ is converted at the rate of 62 francs to £AI.

Western Samoa and Cook Islands.—Transfers can be effected by the Post Office through the New Zealand Post Office. Australian P.O. Commis sion 3d for each £ or fraction, with minimum charge of 6d. At present there is no exchange.

New Hebrides and Tahiti.—No money orders issued through Australian Post Office.

Money Orders By Radio

Money orders may now be sent by radio through the Post Office to the following places in New Guinea: Rabaul, Kavieng, Kieta, Manus, Madang, Aitape, Salamaua, Wau. The usual commission ; or money orders to the Territory (see above) is charged. Radio charges are 6d per word to Rabaul and 1/- per word to the other stations.

Private messages may be included in the radio money order.

Buying. Selling.

Telegraphic transfer .. £F110 15 0 £F112 0 0 On demand £F110 12 6 £F111 17 6

Buying. Selling.

Telegraphic transfer.. .. £112 5 0 On demand £110 7 6 112 2 6 JO days 110 2 6 112 0 0 60 days 109 18 9 111 17 6 90 days 109 15 0 111 15 0 120 days 109 11 3

Australia on Papeete.

Francs to £ Australian Average for week ended 25/6/34 .. .. .. 59.82 Average for week ended 2/7/34 .. .. .. 60.06 Average for week ended 9/7/34 .. .. .. 60.15 Average for week ended 16/7/34 .. .. .. 59.82 Australia on Noumea.

Francs to £ Australian Average for week ended 25/6/34 .. .. .. 59.62 Average for week ended 2/7/34 .. .. .. 59.86 Average for week ended 9/7/34 .. .. .. 59.95 Average for week ended 16/7/34 .. .. .. 59.62