Fiji dollar falls against major currencies

April 19, 2009 11:58:12 AM

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The knock back in Fiji dollar value since the announcement on Tuesday of the 20 percent devaluation saw marked changes across local money traders. 

The devalued Fiji dollars now sees foreign currencies – especially major currencies – fetching more Fiji dollar at local foreign exchange facilities while payment in foreign currencies now require more Fiji dollars. 

Friday’s exchange rates from the three major commercial banks reflected the weakened Fiji dollar against the main currencies.

This was the scenario at the banks:
Westpac Fiji:  F$1 = US$0.475, AU$0.662, Euro 0.366, NZ$0.834, JPY49.78, UK Pound 0.317 compared to US$0.595, AU$0.826, Euro 0.457, NZ$1.027, JPY 62.06, UK Pound 0.399 on April 15, just before the devaluation announcement.   

Colonial Fiji: F$1=US$0.479, AU$0.669, Euro 0.387, NZ$0.84, JPY 53.19, UK Pound 0.318 compared to US$0.596, AU$0.829, Euro 0.421, NZ$1.026, JPY 64.64 and UK Pound 0.357 on April 15. 

ANZ Fiji:  F$1 = US$0.480, AU$0.669, Euro 0.387, NZ$0.840, JPY 53.19, UK Pound 0.318 compared to US$0.59, AU$0.480, Euro 0.373, NZ$ 0.8398, JPY 51.53, UK Pound 0.319 compared to US$0.597, AU$0.826, Euro 0.459, NZ$ 1.025, JPY 62.77 and UK pound 0.398 on April 15.