Exchange Rates

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

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:—

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.

Prom 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 basis of current rate of exchange on Paris, less IVt per cent, (approx.) either way.

As quoted by the Comptolr National d’Escompte de Paris, in Sydney, and the Banque de ITndo chine, Noumea: On October 12, when the Australian £ was nominally worth) 142.40 francs, £lOO Australian would purchase a draft in Noumea of 14,160 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. £ s. d. £ s. d.

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

Direct

Telegraphic Transfer

Selling

Rates

Quoted by

Bank Op New South Wales

in Australia.

Francs to £ Australia on Papeete.

Australian Average for week ended 19/9/38 . . .. 139.71 Average for week ended 26/9/38 . . .. 139.58 Average for week ended 3/10/38 . . .. 138.02 Average for week ended 10/10/38 . . .. 140.25 Francs to £ Australia on Noumea Australian Average for week ended 19/9/38 . . .. 139.56 Average for week ended 26/9/38 . . .. 139.42 Average for week ended 3/10/38 . , .. 137.76 Average for week ended 10/10/38 . . .. 140.10

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