TNAG-0620-FCO40-768-Annual-accounts-of-Hong-Kong-Government-for-year-ending-1976-1977 — Page 24

EXCHANGE RATES

Where dollars are quoted in this report they are, unless otherwise stated, Hong Kong dollars. Since 26th November, 1974 the value of the Hong Kong dollar has been allowed to fluctuate in terms of other currencies. On 31st March, 1976 the market rate was approximately HK$4.93=US$1.00. For accounting purposes the exchange rate for pounds sterling at that date has been taken as HK$9.45— £1.00.

65815-10K-12/76