Exchange Rates
p. 76 · Read in the full issue
FlJl. —Through Bank of NSW, ANZ Bank, Bank of NZ, Bank of Baroda, First National City Bank, Aust $ on Fiji $ buying $F1.0529
= Sai.
COOK IS., NIUE. —New Zealand currency is used.
NEW HEBRIDES —Through Bank of NSW, ANZ Bank, Commercial Bank of Australia, National Bank of A'asia, Banque Nationale De Paris, Barclays Bank, Hong Kong & Shanghai Banking Corp, Mosbert Bank. SAI = 86.83 New Heb ridean francs (buying); 85.57 (selling)—airmail transfer rate.
WESTERN SAMOA.—Through Bank of Western Samoa, controlled from NZ, SWS. Tala 1 = $A0.8200 (buying), $A0.8087 (selling).
TONGA. —Tongan dollar (pa'anga) = $A0.8826 (buying), $A0.8650 (selling).
Norfolk Is, Solomon Is, Geic, Nauru.—
Australian currency used; no exchange payable in transactions with Australia.
PAPUA NEW GUINEA.— PNG and Australian currency used; no exchange payable in trans actions with Australia.
FRENCH PACIFIC COLONIES.—Pacific francs fCFP) are used in New Caledonia, Wallis and Futuna Is, and Fr Polynesia. French Bank, Sydney, on June 13, quoted: SAI = 97.68 CFP (buying), 96.27 (selling). Paris-London: £1 9.11 francs (buying), 9.09 francs (selling). Pacific franc—London: £1 = 167.27 CFP (buying), 167.09 CFP (selling.
CFP to 1 metropolitan franc 18.43 (buying), 17.94 (selling).
Banks should be approached for daily rates.
• The Fiji Government plans to invest $700,000 in a $2.3 million edible oil mill, which will be built at Nasinu by Fiji Foods Ltd. Fiji ex pects to save about $1.5 million a year if it produces its own edible oil.
A UK company is expected to invest $200,000 in the project, and Fijian copra growers will provide $lOO,OOO.
The company will get a $700,000 loan from the UK at 7 per cent, and $600,000 working capital will be provided by a local bank.