XN000022-1984-02-01 — Page 2

WEDNESDAY, FEBRUARY 1, 1964

Monetary Statistics for December 1983

Monetary statistics for December 1983 are

published today. The Hong Kong dollar deposit base

expanded for the third consecutive month, 25

confidence returned to the Hong Kong dollar. Part of

the increase nevertheless was probably seasonal

year-end bonuses were given and interest was credited

to savings accounta. There was during the month also

a seasonal increase in Hong Kong dollar cash held by

the public.

Foreign currency deposits increased again in

December following declines in October and November.

Part of the increase was probably attributable to the

relatively high interbank money market interest rates

for the Hong Kong dollar prevailing during the month,

which were an attraction for the placing of swap

foreign currency deposits.

/Reflecting