TNAG-0520-FCO40-615-Visit-of-Lord-Goronwy-Roberts--Parliamentary-Under-Secretary-1987 — Page 33

Sterling Reserves

Question: Do you think that sterling will be dealt a further blow

if Hong Kong diversifies our sterling reserves?

Minister: No, I don't think so. You are free to place your

balances wherever you think fit. You have decided, like

a great many other countries, that London is the best and most rewarding place to place, both on the question of reward, the question of durability and safety. You are advised to do so, but the decision is for you. I am very confident about the future of the United Kingdom, both on the question of reserves, balance of payment, and every other economic factor.

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