New Monetary
p. 11 · Read in the full issue
Agreement 200 Fighting Fr. Francs to £ Sterling
From Our Own Correspondent
Noumea, Feb. 11.
rE cost ,of living in New Caledonia and Tahiti is likely to be increased 15 per cent, as a result of the new monetary agreement between Britain and Fighting France, fixing the value of the English pound sterling at 200 francs in all Fighting French overseas terri tories.
Hitherto, the rate of exchange in North Africa has been 200 francs to the £, but in countries that originally rallied to General de Gaulle, including those in the Pacific, the rate of exchange for the pound sterling was- fixed, in 1940, by agreement with the British Government, at 176 francs, or 140 francs in relation to the Australian pound.
A second important agreement with Britain provides for the supply of mater ial and goods to the Fighting French in accordance with established lease-lend practice.