Resettlement_Department_Annual_Report_1957-1958 — Page 4

EXCHANGE RATES

Where dollars are quoted in this Report, they are Hong Kong dollars. The official rate for conversion to pound sterling is HK$16=£1 (HK$1=1s. 3d.). The official rate for conversion to US dollars is HK$5.714= US$1 (based on £1=US$2.80) but a more realistic, though approximate, rate based on the local fluctuating open market would be nearer HK$5.90=US$1.