XN000022-1973-07-10 — Page 17

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Tuesday, July 10, 1973

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prices of foodstuffs and basic raw materials are determined by supply

and demand factors rather than purely exchange rate adjustments.

Asked whether the Hong Kong Government was considering revaluing

the Hong Kong dollar as a result of the revaluation of the R..B., Mr.

Haddon-Cave said that there was no evidence to suggest that the present

central rate with the U.S. dollar needed to be changed.

Release Time:

8.30 p..

I