Island-arc basalts (IAB) from convergent plate margins tend to have both higher iron oxidation states (higher Fe3+/Fe2+) and higher H2O contents than the mid-ocean ridge basalts (MORB) produced by seafloor spreading, which raises the question of whether these two characteristics are causally related. Back-arc basin basalts (BABB) may help with this question, in that they are products of seafloor spreading, like MORB, but sourced from supra-subduction mantle, like IAB. Here we examine the relationship between Fe3+/Fe2+ (determined by XANES spectroscopy) and H2O contents in BABB glasses from the North Fiji Basin (NFB). The glasses cover a range of compositions from 6.1 to 8.5 wt% MgO, and from 0.16 to 1.6 wt% H2O, and have also been analysed for trace elements and Sr-Nd-Pb-isotopes. Measured Fe3+/Fe2+ range from MORB-like to slightly higher values and are positively correlated with H2O and heavy-halogen contents (Cl, Br and I). The correlation is due to lower Fe2+ rather than higher Fe3+ compared to the MORB array. This suite of BABBs is not significantly enriched in trace elements other than H2O and the heavy halogens, with MORB-like Ba/Th and other incompatible-element ratios, suggesting that the H2O and halogens may have come from dehydration of subducted lithospheric serpentinites under subsolidus conditions. Na2O is unusually variable for a suite of samples from such a limited area, and is not correlated with H2O, precluding a relationship between H2O and degree of melting. The link between H2O and low Fe2+ may be explained by H2O-rich fluids entering the transcrustal magma plumbing system, where they increase the proportion of olivine and augite to plagioclase crystallizing during the crustal evolution of the magmas. In this situation, relatively small additions of H2O can have an enhanced effect on major-element chemistry if the crustal evolution proceeds by cycles of replenish-mix-tap-crystallize (RMTX) rather than by simple fractional crystallization without repeated replenishment and tapping. The absence of any increase in Fe3+ with H2O, together with the lack of any correlation between H2O and Fe3+/Fe2+ in MORB glasses generally, suggest that various mechanisms, including more extensive olivine fractionation, were responsible for elevating Fe3+/Fe2+ in H2O-rich basalts from convergent margin settings. Proxy methods based on concentrations of elements with redox-variable partition coefficients (V, Eu) are not sensitive enough to record the subtle variations in Fe3+/Fe2+ observable by XANES spectroscopy.