Exchange Rates

[Copyright by “Pacific Islands Monthly’’.] ■THE following exchange quotations, gathered in Sydney, 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 £AIII/2/6, selling £AII3.

Fiji-London on basis £lOO London:—

Direct Telegraphic Transfer

Selling Rates

Quoted by

Bank Of New South Wales

in Australia.

New Guinea And Papua

Through Commonwealth Bank

Prom Australia, Pt. Moresby 10/- 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 10/- per cent, premium each way, equivalent to commission of 10/- per cent.; Australia on Rabaul 10/- per cent, pre mium.

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

New Caledonia—Through

French Bank

Drafts. Sydney-Noumea and Noumea-Sydney, are on the basis of current rate of exchange on Paris, less If per cent, (approx.) either way.

As quoted by the Comptoir National d’Escompte de Paris, in Sydney, and the Banque de ITndo chine, Noumea: On May 23, when the Aus tralian £ was nominally worth 141.4 francs, £ 100 Australian would purchase a draft in Noumea of 14,020 francs.

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:—

The Pt. Moresby launch “lan”, under charter to the Papuan Oil Development Co., was recently destroyed by fire at the mouth of the Wawoi River (near the Bamu River) in the Western Division.

The passengers and crew escaped, but the launch sank and was a total loss.

Buying.

Selling. £ s. d. £ s. d.

Telegraphic transfer .. 110 15 0 112 0 0 On demand 110 12 6 111 17 6

Average for Australia on week ended Papeete. 25/4/38 Francs to £ Australian . . .. 124.10 Average for week ended 2/5/38 . .. .. 125.76 Average for week ended 9/5/38 . . . .. 134.13 Average for week ended 16/5/38 . . .. 138.68 Average for week ended 23/5/38 . . .. 138.62 Average for Australia on week ended Noumea 25/4/38 Francs to £ Australian . . .. 124.05 Average for week ended 2/5/38 . . .. 125.71 Average for week ended 9/5/38 . . ... 134.08 Average for week ended 16/5/38 . . .. 138.63 Average for week ended 23/5/38 . . .. 138.57

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