TNAG-0621-FCO40-769-Budget-of-Hong-Kong-1977 — Page 129

G.F. 323

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21.

of December 1975 and the end of June 1976, whereas the nominal value

against the US dollar during the same period represented an appreciation

of 2.1%. This position was reversed in the second half of the year with

a 4.2% appreciation in the effective exchange rate index of the Hong Kong

dollar compared to a 5.8% appreciation against the US dollar.

Table 24, Diagrams 6 and 7

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