TNAG-2475-FCO40-3605-Hong-Kong-exchange-fund-report-and-accounts-for-1991-1992 — Page 35

CONFIDENTIAL

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54.

The 5 cent coin, which was made legal tender in 1949, was

demonetized on 1 January 1989. It is assumed, given the length of

time the coin has been in circulation and its small face value, that

very few will be returned. At 31 December 1991, 19.9 million had

been withdrawn and shipped to the Royal Mint. This represents 16.3%

of the maximum circulation of 121.8 million which occurred

Chinese New Year 1980.

at

(R.W. Candler)

Acting Director, Office of the Exchange Fund

16 April 1992

Office of the Exchange Fund Monetary Affairs Branch Government Secretariat

CONFIDENTIAL