Chapter

Appendix X (i). Schedule of Par Values—as of June 30, 1960

Author(s):
International Monetary Fund
Published Date:
September 1960
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Currencies of Metropolitan Areas
Par Values

In Terms of Gold
Par Values

In Terms of U.S. Dollars
MemberCurrencyGrams of fine

gold per

currency unit
Currency

units per

troy ounce

of fine gold
Currency

units per

U.S.

dollar
U.S. cents

per currency

unit
AfghanistanAfghaniPar value not yet established
Argentina1Peso
AustraliaPound1.990 6215.625 00.446 429224.000
AustriaSchilling0.034 179 6910.00026.000 03.846 15
BelgiumFranc0.017 773 41,750.0050.000 02.000 00
Bolivia2Boliviano
BrazilCruzeiro0.048 036 3647.50018.500 05.405 41
BurmaKyat0.186 621166.6674.761 9021.000 0
Canada3,4Dollar
CeylonRupee0.186 621166.6674.761 9021.000 0
Chile 5Escudo
ChinaYuanPar value not yet established
ColombiaPeso0.455 73368.249 31.949 9851.282 5
Costa RicaColón0.158 267196.5255.615 0017.809 4
CubaPeso0.888 67135.000 01.000 00100.000
DenmarkKrone0.128 660241.7506.907 1414.477 8
Dominican RepublicPeso0.888 67135.000 01.000 00100.000
EcuadorSucre0.059 244 7525.00015.000 06.666 67
El SalvadorColón0.355 46887.500 02.500 0040.000 0
EthiopiaDollar0.357 69086.956 52.484 4740.250 0
FinlandMarkka0.002 777 1011,200.0320.0000.312 500
FranceNew Franc0.180 000172.7974.937 0620.255 0
Germany, Federal Republic ofDeutsche Mark0.211 588147.0004.200 0023.809 5
GhanaPound2.488 2812.500 00.357 143280.000
Greece4DrachmaPar value not yet established
GuatemalaQuetzal0.888 67135.000 01.000 00100.000
HaitiGourde0.177 734175.0005.000 0020.000 0
HondurasLempira0.444 33570.000 02.000 0050.000 0
IcelandKróna0.023 386 11,330.0038.000 02.631 58
IndiaRupee0.186 621166.6674.761 9021.000 0
Indonesia4RupiahPar values not yet established
IranRial0.011 731 62,651.2575,750 01.320 13
IraqDinar2.488 2812.500 00.357 143280.000
IrelandPound2.4.88 2812.500 00.357 143280.000
IsraelPound0.493 70663.000 01.800 0055.555 6
ItalyLira0.001 421 8721,875.0625.0000.160 000
JapanYen0.002 468 5312,600.0360.0000.277 778
JordanDinar2.488 2812.300 00.357 143280.000
Korea4HwanPar value not yet established
LebanonPound0.405 51276.701 82.191 4845.631 3
LibyaPound2.488 2812.500 00.357 143280.000
LuxembourgFranc0.017 773 41,750.0050.000 02.000 00
Malaya4DollarPar value not yet established
MexicoPeso0.071 093 7437.50012.5008.000 00
MoroccoDirham0.175 610177.1175.060 4919.760 9
NetherlandsGuilder0.233 861133.0003.800 0026.315 8
NicaraguaCórdoba0.126 953245.0007.000 0014.285 7
NorwayKrone0.124 414250.0007.142 8614.000 0
PakistanRupee0.186 621166.6674.761 9021.000 0
PanamaBalboa0.888 67135.000 01.000 00100.000
Paraguay6Guaraní
Peru4,7Sol
PhilippinesPeso0.444 33570.000 02.000 0050.000 0
Saudi ArabiaRiyal0.197 482157.5004.500 0022.222 2
SpainPeseta0.014 811 22,100.0060.000 01.666 67
SudanPound2.551 8712.188 50.348 242287.156
SwedenKrona0.171 783181.0625.173 2119.330 4
Thailand4BahtPar value not yet established
Tunisia4DinarPar value not yet established
TurkeyLira0.317 38298.000 02.800 0035.714 3
Union of South AfricaPound2.488 2812.500 00.357 143280.000
United Arab Republic(or 250 shillings)
Egyptian RegionPound2.551 8712.188 50.348 242287.156
Syrian RegionPound0.405 51276.701 82.191 4845.631 3
United KingdomPound Sterling2.488 2812.500 00.357 143280.000
(or 250 shillings)
United StatesDollar0.888 67135.000 01.000 00100.000
UruguayPesoPar value not yet established
VenezuelaBolívar0.265 275117.2503.350 0029.850 7
Viet-Nam4PiastrePar value not yet established
YugoslaviaDinar0.002 962 2410,500.0300.0000.333 333

The par value agreed by the Government of Argentina and the Fund as of January 9,1957 was 0.0493706 gram of fine gold per peso or 5.55556 U.S. cents per peso. Computations by the Fund involving Argentine pesos are made at the rate of 83 pesos per U.S. dollar.

The par value agreed by the Government of Bolivia and the Fund as of May 14,1953 was 0.00467722 gram of fine gold per boliviano or 0.526316 U.S. cent per boliviano. Computations by the Fund involving bolivianos are made at the rate of 11,500 bolivianos per U.S. dollar.

The par value agreed by the Government of Canada and the Fund as of September 19,1949 was 0.807883 gram of fine gold per dollar or 90.9091 U.S. cents per dollar. On September 30, 1950, Canada introduced a new exchange system under which the exchange value of the dollar is allowed to fluctuate, so that for the time being Canada will not ensure that exchange transactions within its territories will be based on the par value established on September 19,1949. No new par value has been proposed to the Fund. Computations by the Fund involving Canadian dollars are made in accordance with the rules on transactions and computations for fluctuating currencies published on pages 125-27 of the 1955 Annual Report.

For the rate at which Fund holdings of the member’s currency are provisionally carried in the Fund’s accounts, see Note 1 to the Balance Sheet (Appendix IX, Exhibit A).

The par value agreed by the Government of Chile and the Fund as of October 5, 1953 was 0.00807883 gram of fine gold per peso or 0.909091 U.S. cent per peso. Effective January 1, 1960, the Government of Chile established a new monetary unit, the escudo, having a ratio to the peso, which remains a fractional unit, of 1 to 1,000. Computations by the Fund involving Chilean escudos are made at the rate of 1.049 escudos per U.S. dollar.

The par value agreed by the Government of Paraguay and the Fund as of March 1, 1956 was 0.0148112 gram of fine gold per guaraní or 1.66667 U.S. cents per guarani. As of June 30,1960, computations by the Fund involving guaraníes are made at the rate of 122 guaranies per U.S. dollar.

The initial par value of the sol, established on December 18, 1946, was 0.136719 gram of fine gold per sol or 15.3846 U.S. cents per sol. In November 1949, Peru introduced a new exchange system, but no agreement on a new par value has been reached. Computations by the Fund involving Peruvian soles are made in accordance with the rules on transactions and computations for fluctuating currencies published on pages 125-27 of the 1955 Annual Report.

The par value agreed by the Government of Argentina and the Fund as of January 9,1957 was 0.0493706 gram of fine gold per peso or 5.55556 U.S. cents per peso. Computations by the Fund involving Argentine pesos are made at the rate of 83 pesos per U.S. dollar.

The par value agreed by the Government of Bolivia and the Fund as of May 14,1953 was 0.00467722 gram of fine gold per boliviano or 0.526316 U.S. cent per boliviano. Computations by the Fund involving bolivianos are made at the rate of 11,500 bolivianos per U.S. dollar.

The par value agreed by the Government of Canada and the Fund as of September 19,1949 was 0.807883 gram of fine gold per dollar or 90.9091 U.S. cents per dollar. On September 30, 1950, Canada introduced a new exchange system under which the exchange value of the dollar is allowed to fluctuate, so that for the time being Canada will not ensure that exchange transactions within its territories will be based on the par value established on September 19,1949. No new par value has been proposed to the Fund. Computations by the Fund involving Canadian dollars are made in accordance with the rules on transactions and computations for fluctuating currencies published on pages 125-27 of the 1955 Annual Report.

For the rate at which Fund holdings of the member’s currency are provisionally carried in the Fund’s accounts, see Note 1 to the Balance Sheet (Appendix IX, Exhibit A).

The par value agreed by the Government of Chile and the Fund as of October 5, 1953 was 0.00807883 gram of fine gold per peso or 0.909091 U.S. cent per peso. Effective January 1, 1960, the Government of Chile established a new monetary unit, the escudo, having a ratio to the peso, which remains a fractional unit, of 1 to 1,000. Computations by the Fund involving Chilean escudos are made at the rate of 1.049 escudos per U.S. dollar.

The par value agreed by the Government of Paraguay and the Fund as of March 1, 1956 was 0.0148112 gram of fine gold per guaraní or 1.66667 U.S. cents per guarani. As of June 30,1960, computations by the Fund involving guaraníes are made at the rate of 122 guaranies per U.S. dollar.

The initial par value of the sol, established on December 18, 1946, was 0.136719 gram of fine gold per sol or 15.3846 U.S. cents per sol. In November 1949, Peru introduced a new exchange system, but no agreement on a new par value has been reached. Computations by the Fund involving Peruvian soles are made in accordance with the rules on transactions and computations for fluctuating currencies published on pages 125-27 of the 1955 Annual Report.

Appendix X (ii). Schedule of Par Values—as of June 30, 1960

Separate Currencies in Nonmetropolitan Areas of Members
Par Values

In Terms of Gold
Par Values

In Terms of U.S. Dollars
Member and

Nonmetropolitan Areas
Currency and Relation to

Metropolitan Unit
Grams of fine

gold per

currency unit
Currency

units per

troy ounce

of fine gold
Currency

units per

U.S.

dollar
U.S. cents

per currency

unit
BELGIUM
Belgian CongoFranc (parity with Belgian franc)0.017 773 41,750.0050.000 02.000 00
FRANCE
AlgeriaNew Franc (parity with French new franc)0.180 000172.7974.937 0620.255 0
French Antilles
Franc (= 0.01 French new franc)0.180 00017,279.7493.7060.202 550
French Guiana
French Equatorial Africa
French West AfricaCFA1 Franc (= 0.020.003 600 008,639.86246.8530.405 099
RéunionFrench new franc)
St. Pierre and Miquelon
French Possessions of Oceania
New CaledoniaCFP2 Franc (= 0.0550.009 900 003,141.7789.764 71.114 02
New HebridesFrench new franc)
French SomalilandDjibouti Franc0.004 145 077,503.73214.3920.466 435
ITALY
SomalilandSomaloPar value not yet established
NETHERLANDS
Netherlands AntillesGuilder (= 2.015 Netherlands guilders)0.471 23066.004 91.885 8553.026 4
New GuineaGuilderPar value not yet established
SurinamGuilder0.471 23066.004 91.885 8553.026 4
UNITED KINGDOM
Gambia
NigeriaBritish West African
Sierra LeonePound3
Federation of Rhodesia and NyasalandRhodesia and Nyasaland Pound3
BahamasBahamas Pound32.488 2812.500 00.357 143280.000
BermudaBermuda Pound3
CyprusCyprus Pound3
Falkland IslandsFalkland Islands Pound3
GibraltarGibraltar Pound3
JamaicaJamaican Pound3
MaltaMaltese Pound3
Aden
KenyaBritish East African Shilling (20 per pound sterling)0.124 414250.0007.142 8614.000 0
Tanganyika
Uganda
Zanzibar
Barbados
British GuianaBritish West Indian Dollar (4.80 per pound sterling)
Leeward Islands0.518 39160.000 01.714 2958.333 3
Trinidad
Windward Islands
British North Borneo
Malayan Dollar
Brunei(8.571 43 per pound sterling, or 2 shillings 4 pence per Malayan dollar)0.290 299107.1433.061 2232.666 7
Sarawak
Singapore
British HondurasBritish Honduras Dollar (4.00 per pound sterling)0.622 07050.000 01.428 5770.000 0
FijiFiji Pound (1.11 per pound sterling)2.241 6913.875 00.396 429252.252
Hong KongHong Kong Dollar (16 per pound sterling)0.155 517200.0005.714 2917.500 0
MauritiusMauritius Rupee (13 ⅓ per pound sterling)
0.186 621166.6674.761 9021.000 0
SeychellesSeychelles Rupee (13 ⅓ per pound sterling)
TongaTongan Pound (1.250 00 per pound sterling)1.990 6215.625 00.446 429224.000

Colonies Françaises d’Afrique.

Colonies Françaises du Pacifique.

Parity with sterling.

Colonies Françaises d’Afrique.

Colonies Françaises du Pacifique.

Parity with sterling.

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