Exchange Rates

THE following exchange quotations, gathered in * Sydi ey, show the rates existing in May:

Fiji—Through Bank Of N.S.W.

And Bank Of New Zealand

Australia on Fiji on basis of £lOO Fiji: Buying fAlll/2/6, selling £AII3.

Fiji-London on basis £lOO London:

Direct Telegraphic Transfer

Selling Rates

Quoted by

Bank Of New South Wales

in Australia

Western Samoa—Through

Bank Of N.Z.

Exchange, Australia on Western Samoa, basis £lOO Samoa—buying £AIOO, selling £AIOO/10/-.

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

New Caledonia—Through

French Bank

Drafts, Sydney-Noumea and Noumea-Sydney, are on the basis of current rate of exchange on Paris, less li per cent, either way. As quoted by the Comptoir National, in Sydney, and the Bank of Indo Chine. Noumea: On May 24, when the Australian £ was nominally worth 87.43 francs. £lOO Australian would purchase a draft in Noumea of 8,743 francs.

New Guinea And Papua

Through Commonwealth

Bank

From Australia, Pt. Moresby, £1 per cent. ; on Rabaul 10/- per cent. —Other New Guinea districts £1 per cent.

From Rabaul on London, same as Australia on London:— Buying: T.T. £AI2S equals £stg. 100.

Selling: T.T. £AI2S/10/- equals £stg. 100.

Through Bank Of N.S.W.

Australia, on Papua, £1 per cent, premium each way, equivalent to commission of £1 per cent.; Australia, on Rabaul, 10/-* per cent, premium.

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

Buying.

Selling.

Telegraphic transfer ... £110 15 0 £112 0 0 On demand ... £110 12 6 fill 17 6

Average for Australia on week ended Papeete 26/4/’37 Francs to £ Australian 86.90 Average for week ended 3/5/’37 86.84 Average for week ended 10/5/’3 7 86.12 Average for week ended 17/5/'37 86.45 Average for week ended 24/5/’37 86.78 Average for Australia on week ended Noumea 26/4/’37 Francs to £ Australian 87.26 Average for week ended 3/5/’37 87.19 Average for week ended 10/5/’37 86.47 Average for week ended 17/5/’37 86.80 Average for week ended 24/5/’37 87.13

Buying. Selling.

Telegraphic transfer £125 0 0 On Demand ... ... £123 0 0 124 17 6 30 days 122 15 0 124 15 0 60 days - 122 10 0 124 12 6 90 days - 122 5 0 124 10 0 120 days - 122 0 0 124 7 6