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THURSDAY, JULY 15, 1976
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APRIL ISSUE OF MONTHLY DIGEST OF STATISTICS
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THE APRIL ISSUE OF THE HONG KONG MONTHLY DIGEST OF STATISTICS, WHICH CONTAINS A SPECIAL REVIEW ARTICLE, IS NOW ON SALE.
THE ARTICLE INTRODUCES AN EFFECTIVE (TRADE-WEIGHTED) EXCHANGE RATE OF THE HONG KONG DOLLAR, ITS METHOD OF CALCULATION AND ITS MOVEMENTS SINCE DECEMBER 18, 1971 WHEN THE SMITHSONIAN AGREEMENT WAS REACHED.
CONVENTIONALLY, THE EXTERNAL VALUE OF THE HONG KONG DOLLAR HAS BEEN EXPRESSED IN TERMS OF AN INTERNATIONAL CURRENCY SUCH AS THE U.S. DOLLAR. BECAUSE OF THE FLOATING EXCHANGE RATE SYSTEM AND THE RELATIVE STRENGTH OF THE H.K. DOLLAR AGAINST OTHER MAJOR CURRENCIES, THIS IS NO LONGER A RELIABLE YARDSTICK FOR MEASURING EXCHANGE VALUES OF THE H.K. DOLLAR.
WHILST THE HONG KONG DOLLAR MAY DEPRECIATE OR APPRECIATE AGAINST THE CURRENCIES OF HONG KONG'S MAJOR TRADING PARTNERS, SOME INDICATION ON THE NET, OVERALL POSITION REQUIRES THAT AN EFFECTIVE (TRADE-WEIGHTED) EXCHANGE RATE BE CONSTRUCTED. THE EFFECTIVE (TRADE-WEIGHTED) EXCHANGE RATE ATTEMPTS TO INDICATE THE MOVEMENTS OF THE EXTERNAL VALUE OF THE HONG KONG DOLLAR IN TERMS OF 15 CURRENCIES OF HONG KONG'S TRADING PARTNERS.
THE HONG KONG MONTHLY DIGEST OF STATISTICS IS OBTAINABLE FROM THE GOVERNMENT PUBLICATIONS CENTRE AT THE STAR FERRY CONCOURSE, HONG KONG AT HK$6.00 PER COPY.
WATER CUT
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WATER SUPPLY TO A NUMBER OF PREMISES IN SHAM SHUI PO, KOWLOON, WILL BE TURNED OFF FOR FIVE HOURS, STARTING FROM 1 A.M. ON SATURDAY (JULY 17) TO ALLOW THE WATERWORKS OFFICE TO CARRY OUT A NIGHT LEAKAGE TEST.
THE AREA AFFECTED IS BOUNDED BY CHEUNG SHA WAN ROAD, NAM CHEONG STREET, TAI PO ROAD, CASTLE PEAK ROAD AND KWEILIN STREET, INCLUDING FUK WA STREET, FUK WING STREET, UN CHAU STREET AND PE HO STREET.
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