Exchange Pates

[Copyright by “Pacific Islands Monthly”.] THE following exchange quotations, gathered in Sydney, show the rates existing in mid-September;—

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.

Prom Rabaul on London, same as Australia on London:— Buying; T.T. £AI2S eqlials £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 basis of current rate of exchange o:i Paris, less IV 4 per cent, (approx.) either way.

As quoted by the Comptolr National d’Escompte de Paris, in Sydney, and the Banque de ITndi chine, Noumea: On September 12, when the Australian £ was nominally worth 141.85 francs, £lOO Australian would purchase a draft in Noumea of 14,125 francs.

Western Samoa—Through

Bank Of N.Z.

Exchange, Australia on Western Samoa, basis

Buying.

Selling. £ s. d. £ s. d.

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

Francs to £ Australia on Papeete. Australian Average for week ended 15/8/38 .. 140.12 Average for week ended 22/8/38 140.15

Average for week ended 29/8/38 . . .. 139.77 Average for week ended 5/9/38 .. .. 139.71 Average for week ended 12/9/38 .. .. 139.71 Francs to £ Australia on Noumea Australian Average for week ended 15/8/38 .. .. 139.97 Average for week ended 22/8/38 .. .. 140.00 Average for week ended 29/8/38 . . .. 139.62 Average for week ended 5/9/38 .. .. 139.56 Average for week ended 12/9/38 .. .. 139.56

£100 Samoa- —buying £A100, selling £A100/10/-.

Exchange.

Samoa on London, basis £100 in London;— Telegraphic Buying. Selling, transfer £125 0 0 On Demand 30 days 122 15 0 124 15 0 60 days 90 days 120 days