in Pacific

Effect of New Exchange in Pacific

Canberra. Sept. 19.

TWO factors of the international cur rency rearrangement announced thii morning will immediately affec Pacific Territories; — • Sterling has been de-valued about 3( per cent, in relation to the United State! dollar. Australian, NZ and Fiji currenciei remain in the same relation to Sterling and therefore automatically are reducet in terms of Dollars. In other words, th< Australian, NZ and Fiji pounds buy thi same amount of Sterling as heretofore but one third fewer dollars. • Gold has been increased in valui from £lO Aust. to £l5 Aust. per fin ounce. This immediately benefits th economies of New Guinea and Fiji.