Exchange Rates

THE following exchange quotations, gathered in Sydney, show the rates existing in mid-July:—

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.

Pljl-London on basis £lOO London; — Buying. Selling.

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 Papua and 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.

Western Samoa—Through

Bank Of N.Z.

Exchange, Australia on Western Samoa, basis £ 100 Samoa —buying £ A99/12/6, selling

£ Aloo/2/6.

Exchange, Samoa on London, basis £ 100 in London:—

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 July 11, when the Australian £ was nominally worth 140.70 francs, £ 100 Australian would purchase a draft in Noumea of 13,871 francs. —.. i ■ . = The Rabual Hotel (New Guinea) is now under the management of Rabaul Hotel Limited, with Mr. R. L. Solomons as licensee (says the “Rabaul Times”).

Mrs. Bignell’s interests terminated on June 30. We understand that as soon as certain repairs have been effected and formalities observed, the license will be transferred to Mrs. Desmond Middle ton, of the Cosmopolitan Hotel.

The “Matua” unloaded 19,000 cases of good oranges, from the Cook Islands, in New Zealand, early in July, and a New Zealand orange famine, which had last ed for some weeks, came to an end.

£ 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 19/6/39 .. . . .. 138.45 Average for week ended 26/6/39 .. .. .. 138.44 Average for week ended 3/7/39 .. . . .. 138.45 Average for week ended 10/7/39 . . .. 138.29 Francs to £ Australia on Noumea Australian Average for week ended 19/6/39 ..

Average for week ended 26/6/39 .. .. .. 138.29 Average for week ended 3/7/39 ., Average for week ended 10/7/39 . . . . .. 138.44

Buying. Selling.

Telegraphic transfer . £125 10 0 On Demand £ 123 10 0 125 7 6 30 days 123 5 0 125 5 0 60 days 123 0 0 125 2 6 90 days 122 15 0 125 0 0 120 days 122 10 0 121 17 6