HOFO #10/21
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21 SEC 1972
2
OFFICER
PA
Actio 1
No
CYPHER CAT A
FM HONG KONG 219448Z
CONFIDENTIAL
TO PRIORITY F C O TELNO 1117 OF 21 SEPTEMBER 1978 INFO WASHINGTON, HONG KONG GOVERNMENT OFFICE LONDON.
DTI TELNO ALLOT 138: HONG KONG/US CURRENCY PROBLEMS.
WE SHOULD BE GRATEFUL IF YOU WOULD PRESS THE AMERICANS ON THIS ISSUE AS WE SHOULD MUCH PREFER THAT THE FARES BE AVAILABLE IN LOCAL CURRENCY AT THE US SELLING LEVELS CONVERTED AT THE MARKET EXCHANGE RATE. APART FROM THE INCONVENIENCE OF THE PROSPECTIVE PASSENGER HAVING TO PURCHASE US DOLLARS, THE PRIVILEGE COULD BE WITHDRAWN AT SOME TIME IN THE FUTURE.
2.DOWNING HAS REPLIED (BY LETTER DATED 14 SEPTEMBER) TO REED'S LETTER OF 8 AUGUST EXPRESSING DISAPPOINTMENT ON YOUR POSITION IN RESPECT OF THE SALE OF TICKETS IN STERLING AT UK SELLING LEVELS. REED'S LETTER DOES NOT ATTEMPT TO JUSTIFY THIS POSITION
ON ECONOMIC GROUNDS BUT SIMPLY SAYS (IN PARA 17) THAT THIS IS A FORM OF DISCOUNTING ON THE APPROVED FARE. TO OUR MINDS, IT IS AN EXACT PARALLEL TO THE HONG KONG/US FARES SITUATION, AND WE LOOK FORWARD TO FURTHER COMMENT ON THIS ASPECT.
MACLEHOSE
531
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