HKK
100/7
RECEIVED IN REGISTRY NO. 51
20 OCT 1983
DESK OFFICER
INDEX
REGISTE
PA
BER
88 See98
xx 15/0941&
UMMEDIATE
ADVANCE COPY
Hallitus
Ни
心
HOFO 044/18
00 FCO
00 PEKING
GR 80
CONFIDENTIAL
FM HONG KONG 180935Z OCT 83
TO MMMEDIATE FCO
TELEGRAM NUMBER 1550 OF 18 OCTOBER
#NFO UMMEDIATE PEKING
FOR CLIFT (HONG KONG DEPARTMENT) FROM BREMRIDGE: EXCHANGE RATES.
THE MARKET IS BEGINNING TO UNDERSTAND THE NEW SYSTEM. INTEREST
RATES ARE STARTING TO REACT, BUT THIS HAS NOT YET BEEN FULLY
REFLECTED IN THE FREE EXCHANGE RATE OF THE HONG KONG DOLLAR.
THIS TONIGHT WAS FOR MOST BANKS 7.85/7.88.
2. HOWEVER THE MKSBC AND THE CHARTERED BANK HAVE BEEN QUOTING
THROUGHOUT THE DAY RATES CLOSE TO THE FAXED RATE OF 7.80. 3. AS A FINAL PIECE OF GOOD NEWS, SHELL ARE TONIGHT ANNOUNCING
REDUCTIONS IN THEIR PRICES.
HADDON-CAVE
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