Obviously the 26 is the diameter, but what is the "38/32"? It would be a non-standard fraction, but maybe it's just an easier way of writing "1 6/32" as the width? Or is it not a fraction, but maybe a range or something? But the larger number is listed first, which makes it seem odd for a range. And a range of what units?

Similarly, two tubes that I have for a 700C wheel are marked "700 x 28/32C" and "700 x 35/43C". Again, fraction, range, or something else? 43rds? Plus I wouldn't expect imperial fractions mixed with metric measurements. At least interpreting them as a range of millimeters seems a little more believable here.

I always seem to get stuck on the simple things...