Exchange Rates

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

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 % 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 January 13, when the Australian £ was nominally worth 140.95 francs, £lOO Australian would purchase a draft in Noumea of 14,015 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: —

“New Guinea is a logical stepping stone between Japan, the Carolines and unguarded North Australia. If Great Britain and the United States were once engaged with troubles elsewhere, the Japan of the future might find it an easy matter to step in from the north”. —From “Men and Birds of Paradise”, a new book on the Western Pacific, by A.

J. Marshall.

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 19/12/38 .. .. 139.20 Average for week ended 26/12/38 . . .. 138.86 Average for week ended 2/1/39 138.67 Average for week ended 9/1/38 138.56 Francs to £ Australia on Noumea Australian Average for week ended 19/12/38 .. .. 139.05' Average for week ended 26/12/38 .. .. 138.71 Average for week ended 2/1/39 138.52 Average for week ended 9/1/39 138.41

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