TNAG-1848-FCO40-2623-House-of-Commons-Select-Committee-on-Foreign-Affairs-enquiry-1989 — Page 83

Exchange Rates of Hong Kong Dollar

Annex D

Period

Sterling

Australian Dollar

Canadian Dollar

April 78 to March 79

9.308

5.4498

4.1100

Average Annual Exchange Rates *(Hong Kong Dollars to 1 Unit of Foreign Currency)

Indian Rupee

0.5830

New Zealand Dollar

Pakistan Rupee

5.0034

0.4833

79 to

80

10.968

5.5848

4.3210

0.6221

5.0231

0.5114

80 to

81

11.860

5.9030

4.3160

0.6406

4.9018

0.5176

81 to

82

32

10.947

6.4855

4.8176

0.6427

4.7771

0.5771

82 to

83

10.417

6.1553

5.1042

0.6549

4.5794

0.5186

83 to

84

11.323

6.8551

6.1348

0.7372

5.0026

0.5804

84 to

85

9.784

6.5042

5.9335

0.6582

4.0847

0.5467

35 to

86

10.892

5.4172

5.6620

0.6409

4.0699

0.4948

86 to

87

11.686

5.1958

5.7138

0.6109

4.1735

0.4636

87 to

88

13.357

5.5644

5.9916

0.6024

4.8582

0.4517

Average 78/79 to 87/88

11.054

5.9115

5.2104

0.6393

4.6474

0.5145

Depreciation of sterling

exchange rate of the Hong

26.650%

(Say 25%)

Kong dollar from the average exchange rate over the

period from 78/79 to 87/88 to £1: HK$14

Level of exchange rate which is 25% below the average of the period 78/79 to 87/88

Exchange rates on 31.12.88**

7.3894

6.5130

0.7991

5.8093

0.6431

14.118

6.6903

6.5663

0.5195

4.9328

0.4243

Average April to December 88

13.827

(00138 : 20)

*

6.3544

6.4374

0.5479

Average of the mid-market rate prevailing at the end of each month in the year.

** Mid-market rate on 31.12.88.

5.0787

0.4330