Exchange Pates

(Copyright by “Pacific Islands Monthly”.] T" HE following exchange quotations, gathered in Sydney, show the rates existing in June:—

Fiji—Through Bank Of N.S.W

And Bank Of New Zealand

Australia on Fiji on basis of £lOO Fiji- Buving £ Alll/2/6, selling £AII3. Y g Fiji-London on basis £lOO London:—

Direct Telegraphic Transfer

Selling Rates

Quoted by

Bank Op New South Wales

in Australia.

New Guinea And Papua

Through Commonwealth Bank

From 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 1J per cent, (approx.) either wav.

As quoted by the Comptoir National d’Escompte de Paris, in Sydney, and the Banque de I’lndo chine, Noumea: On June 17, when the Aus tralian £ was nominally worth 141.5 francs, £lOO Australian would purchase a draft in Noumea of 14,075 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:—

Buying. Selling. m , £ s. d. £ s. d.

Telegraphic transfer .. no 15 0 112 o 0 On demand 110 12 6 111 17 6

Average for Australia on Papeete, week ended 30/5/38 Francs to £ Australian . .. 139.39 Average for week ended 6/6/38 . . . .. 139.12 Average for week ended 13/6/38 . .. 139.16 Average for Australia on week ended Noumea 30/5/38 Francs to £ Australian . . .. 139.34 Average for week ended 6/6/38 . . . .. 139.07 Average for week ended 13/6/39 . . .. 139.11

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