Exchange Rates

Islands Produce

HpHERE has been little activity in the Sydney L market for Islands produce during the month; the following nominal quotations were obtained in mid-June:—

Coffee

New Caledonian: Arabica, £65 per ton (c.i.f.

Sydney). Robusta, £4B to £5O per ton (c.i.f.

Sydney).

New Hebrides: Robusta, £5B to £6O per ton (c.i.f. Sydney), Java, Kenya and Mysore: No firm quotations available.

New Guinea and Papuan: No firm quotations available.

Cocoa

New Guinea cocoa beans: Quote No. 1; £6B per ton (in store, Sydney). Quote No. 2: £63 (in store, Sydney).

Western Samoa: Sales reported, Ist quality, £BO (f.0.b., Apia).

New Hebrides: Quote No. 1: £6O (in store, Sydney I. Quote No. 2: £56 to £5B (c.i.f.).

Accra: £65 (in store, Sydney).

Vanilla Beans

No firm quotations available.

Kapok

The market for Javanese kapok has been suspended since the Japanese occupied Dutch East Indies,

Cotton

New Caledonia: Quote No, 1: OVfed. to lOd. lb. (c.i.f., Sydney). Quote No. 2: 9d. to 9V 2 d. (c.i.f., Sydney).

Ivory Nuts

No firm quotations available.

Trochus Shell

Last sales in Sydney were as follows;—“A” grade, £7O per ton; “B”, £69; “C”, £59.

In Suva, Fiji, in May, trochus was quoted by Suva merchants at £33.

Rice

As a result of war conditions in the Far East, the market for Rangoon rice has been suspended.

Green Snail Shell

No firm quotations available.

Pearl Shell

Thursday Is. MOP: No quotations available at present.

Fiji Pearl Shell: Suva merchants in May were offering £l4 per ton.

Exchange Rates

THE following exchange quotations show the rates existing in Sydney in mid-June:—

Fiji

Through Bank of NSW and Bank of New Zealand;—Australia on Fiji on basis of £lOO Fiji: Buying, £Alll/2/6; selling, £AII3. Fiji- London on basis of £lOO London:—

Western Samoa

Through Bank of New Zealand Australia on Western Samoa on basis of £lOO Samoa: Buy ing, £A9S’/12/6: selling, £AIOO/2/6. Samoa on London on basis of £lOO in London:—

New Guinea And Papua

Only nominal at present

Free French Pacific Colonies

Since the collapse of France, London banks have suspended their quotations on Paris; there fore the French Pacific Colonial bank rates formerly furnished to the “PIM” by the Comp toir National d’Escompte de Paris (Sydney) and the Bank of NSW (Sydney) are unavailable.

Most of the business between the Free French Colonies in the Pacific and Australia is being done in Australian currency: but there is in existence an unofficial, fluctuating rate of be tween 140 and 143.5 francs to the Australian £.

Buying.

Selling. £ s. d. £ s. d.

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

Buying.

Selling. £ s. d. £ s. d.

Telegraphic transfer — £125 10 0 On Demand £122 18 9 125 7 6 30 days 122 8 9 125 2 6 60 days 121 18 9 124 17 6 90 days 121 8 9 124 12 6 120 days 120 18 9 —