TNAG-0380-FCO40-426-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 61

3. The guarantee is given at $2.4213.

The

guarantee will be implemented if the average of

daily rates for sterling in terms of US dollars

throughout the six month period is below the

guarantee rate.

Settlement would be in sterling and

the amount would be calculated as the sum necessary

to restore the value of eligible balances calculated

at the average rate to their value calculated at the

guarantee rate.

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