Exchange Rates

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

Fiji—Through Bank Of N.S.W.

And Bank Of New Zealand

Australia on Fiji on basis of £lOO Fiji; Buying £Alll/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

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 basis of current rate of exchange on Paris, less VA 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 November 14, when the Australian £ was nominally worth 142.30 francs, £lOO Australian would purchase a draft in Noumea of 14,140 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 ... 110 15 0 112 0 0 On demand 110 12 6 111 17 6

Average for Australia on Papeete. week ended 17/10/38 Francs to £ Australian .. .. 140.13 Average for week ended 24/10/38 .. .. 140.03 Average for week ended 31/10/38 .. .. 140.08 Average for week ended 7/11/38 . . .. 140.07 Average for week ended 14/11/38 .. .. 140.11 Average for Australia on week ended Noumea 17/10/38 Francs to £ Australian .. .. 139.98 Average for week ended 24/10/38 . . .. 139.88 Average for week ended 31/10/38 .. .. 139.93 Average for week ended 7/11/38 , . . .. 139.92 Average for week ended 14/11/38 . . .. 139.96

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 132 5 0 124 10 0 120 days 122 0 0 124 7 6