TNAG-0542-FCO40-637-Strength-of-garrison-in-Hong-Kong-1975 — Page 168

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ECHO PD WE THINK WE CAN COVER SERIALS THREE CMM SEVEN CMM EIGHT AND NINE HERE PD THERE IS HOWEVER A GENERAL PO INT IN REGARD TO THESE SERIALS PD SINCE THESE COSTS ALL ORIGINATE AS DOLLAR AMOUNTS CMM THEY WOULD BE CONVERTED TO STERLING FOR ESTIMATES PURPOSES AT THE EYCHANGE NATE ASSUMPTION IE ELEVEN POINT NINE SIX FOR EST- IMATES 75/76 PD PRESUMABLY YOUR COSTINGS ARE BASED ON THIS EXCHANGE RATE CMM AND YOUR UPDATED FIGURES WILL SHOW AN INCREASE AS A RESULT OF THE REDUCTION IN EXCHANGE RATE ASSUMPTION FOR ESTIMATES 76/77 PD SINCE THESE COSTS ARE MET IN DOLLARS CMM THEY WILL EVENTUALLY BE CONVERTED BACK TO THAT CURRENCY AT THE SAME RATE PD WE SHALL PRESUMABLY HAVE TO EXPLAIN THIS TO HONG KONG OFFICIALS SINCE THE CURRENT MARKET RATE IS BELOW ELEVEN PD THIRD PD SORRY ABOUT THE LENGTH AND COMPLEXITY OF THIS SIGNAL CMM BUT IT IS INDICATIVE OF THE DEPTH HONG KONG OFFICIALS ARE NOW URGENTLY PURSUING DP YOUR ASSISTANCE AND VIEWS WOULD BE APPRECIATED

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