Key to species of Parequula from the Indo-West Pacific

1a. Slender body (2.7–3.4, mean 3.0 in standard length); upper margin of dorsal-fin rays reddish in fresh specimens; 14–15 (mode 15) soft anal-fin rays; 34–35 (mode 34) pored lateral-line scales................................... P. elongata n. sp.

1b. Deeper body (2.0–2.7, mean 2.3 in standard length); upper margin of dorsal-fin rays yellowish in fresh specimens; 16–18 (mode 17) soft anal-fin rays; 37–40 (mode 38) pored lateral-line scales.............................. P. melbournensis