Exchange Rates
p. 110 · Read in the full issue
THE following exchange quotations show the rates existing in Sydney in mid-February:—
Fiji
Through Bank of NSW and Bank of New Zealand:—Australia on Fiji on basis of £lOO Fiji: Buying. £Alll/2/6; selling. £AII3. Flji- London on basis of £lOO London: —
Western Samoa
Through Bank of New Zealand:—Australia on Western Samoa on basis of £lOO Samoa: buy ing. £AI23/12/6; selling. £AI24/10/9.
Samoa-London on basis of £lOO London:—
Samoa on Fiji, on basis of £100 Samoa:— Buying, £111; selling, £110.
Samoa on USA on basis of £1 Samoa (tele graphic transfer): Buying, 2.7931 dollars; sell ing, 2.7586 dollars.
The Bank of NZ in Apia pays the following Samoan currency prices for overseas notes: — NZ notes £1 for £1 Australian notes 15/6 for £A1 USA notes .. .. 7/3 (approx.) per dollar Fijian notes 17/6 per £F1
Papua-New Guinea
Bank of New South Wales, which has branches in Port Moresby, Lae, and Rabaul quotes an exchange rate between Australia and Papua-New Guinea of 10/- per £100.
Similar rates through Commonwealth Bank of Australia (branches at Port Moresby, Lae, Rabaul and Madang).
French Pacific Colonies
SINCE the end of 1945, the franc, Instead of having the same value in all parts of the French Empire, has been given different values in different Colonial Groups. There are three groups. Group 1 (using Metropolitan francs): France, North Africa, West Indies, French Guiana. Group 2 (using African francs): All African Colonies, Madagascar, Reunion, St.
Pierre, Miquelon. Group 3 (using Pacific francs); New Caledonia, New Hebrides, French Oceania.
In September, 1949, when Britain and Australia devalued their currencies, in relation to the US dollar, the franc rate was altered as shown below (nominal only):—
All quotations are subject to daily fluctuations
Buying Selling £ s. d. £ s. d.
Telegraphic transfer . .. Ill 2 6 113 0 0 On demand . . Ill 2 6 113 0 0
Buying Selling £ s. d. £ s. d.
Telegraphic transfer . 100 7 6 101 10 0 On demand 99 9 3 101 10 0 Samoa on New Zealand, on basis of £100 NZ: —Buying, £100; selling, £100/10/-
£ Stg.
USA Dol. £ Aust.
Group 1 fMetrop.) 981 349.20 777 Group 2 (African) 490 175 388 Group 3 (Pacific) . 178.37 60 141.75