DD 070100 HONG KONG
GRS200
SECRET
SECRET
HKK
TOP OCT
30965
1
100/3.
10 JUL 1984
DESKBY 070100Z
FM FCO 061730Z JULY 84
DEAK OFFICE
INDEX
TO IMMEDIATE HONG KONG
Ло
Ru
B
TELEGRAM NUMBER 1250 OF 6 JULY
PERSONAL FROM CLIFT FOR GOVERNOR
YOUR TELNO 1854: HONG KONG DOLLAR
1. THANK YOU FOR THE INFORMATION IN TUR. WE SHOULD BE
GRATEFUL IF YOU WOULD KEEP US CLOSELY INFORMED OF DEVELOPMENTS.
2. YOU WILL APPRECIATE THAT TO ASSESS THE IMPORTANCE OF THE
DECLINE IN CONFIDENCE, AND PARTICULARLY GIVEN THE RUMOURS
REFERRED TO AT THE END OF PARAGRAPH TWO OF TUR, MINISTERS WILL
WISH TO HAVE INFORMATION ON THE DEGREE OF INTERVENTION IN THE
MARKET AND THE EXTENT TO WHICH THE MECHANISM INTRODUCED IN
OCTOBER 1983 HAS BEEN SUCCESSFUL. I SHOULD THEREFORE BE VERY
GRATEFUL IF YOU WOULD PROVIDE THE FOLLOWING INFORMATION, TO BE
HANDLED AT THIS END ON A VERY RESTRICTED BASIS.
3. WE SHOULD FIND IT HELPFUL TO KNOW BOTH FOR THE CURRENT
PERIOD OF PRESSURE AND FOR A COMPARABLE EARLIER PERIOD WHEN THE
HONG KONG DOLLAR TRADED CLOSE TO THE DOLLAR 7.80 RATE:
(A) THE LEVEL OF DIRECT INTERVENTION BY THE EXCHANGE FUND IN
SUPPORT OF THE HONG KONG DOLLAR:
(B) THE QUANTITY OF US DOLLARS SUPPLIED BY THE EXCHANGE FUND
(ON A DAILY OR WEEKLY BASIS) IN EXCHANGE FOR CERTIFICATES OF
INDEBTEDNESS PREVIOUSLY HELD BY THE NOTE-ISSUING BANKS.
HOWE
DISTRIBUTION
MINIMAL
HEAD HKD
ECON ADVISERS (MR HALLETT)
SEORET
A
12
No comments yet.
Private notes are available after approval.