THIS PROVISION, WHICH IS AN EXTENSION OF THE FREVIOUS ARRANGEMENT,
MEANS THAT COUNTRIES WITH RISING RESERVES NEED NOT ADD TO THEIR
STERLING HOLDINGS, WHILE THOSE WITH FALLING RESERVES CAN USE
THEIR STERLING BUT NOT AT A GREATER RATE THAN THEY USE THEIR OTHER
ASSETS.
CALLAGHAN
BY TELEGRAPH
UKREP EEC BRUSSELS
UKDEL CECD PARIS
UKDEL STRASBOURG
BIS NEW YORK
TEHRAN
PRETORIA
C G JOHANNESBURG
ISLAMABAD
NAIROBI
LUSAKA
TOKYO
BLANTYRE
CANBERRA
WELLINGTON
SINGAPORE
MBABANE
VALLETTA
NICOSIA
AND SAVING TO CERTAIN OTHER POSTS
FCO/WHITEHALL DISTRIBUTION
GIPD
ADDITIONAL DISTRIBUTION
GUIDANCE
COPIES TO
MR J J MONAGHAN
H M TREASURY
사