3
DD 26160OZ UKMIS NEW YORK
GRS112
DE DI P
SECRET/DE DI P
HKK
SECRET
DESKBY 261600Z
INDEX
FM FCO 2615452 SEPTEMBER 83
IMMEDIATE UKMIS NEW YORK
10017
1: 623ISTRY NO. 51 20 OCT 1983
ISTRY
ction taken
20522
TELEGRAM NUMBER 509 OF 26 SEPTEMBER
FOR PRIVATE SECRETARY
FOLLOWING FROM GIFFARD
1. THE SECRETARY OF STATE MAY WISH TO KNOW THAT THE
TREASURY HAVE TOLD US IN THE STRICTEST CONFIDENCE THAT
THE IDEA OF PEGGING THE HONG KONG DOLLAR TO STERLING
AROSE FROM A TELEPHONE CONVERSATION WHICH PROFESSOR
WALTERS HAD WITH THE PRIME MINISTER LAST NIGHT
THE IDEA WAS TO PEG THE HONG KONG DOLLAR WELL
BELOW ITS PRESENT RATE.
TREASURY OFFICIALS ARE OPPOSED
TO THIS IDEA, AS ARE WE. IT SEEMS CLEARLY RIGHT IN
PRESENT CIRCUMSTANCES FOR HONG KONG TO PLAY THEIR HAND ON THE
LINES OF THE GOVERNOR'S TELNO 11 TO OTTAWA.
HOWE
LIMITED
HD/HKD
IDIERD
PS
PS/PUS
MR GIFFARD
HR EVANS
1
SECRET/D EDI P
-
1
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