The Hongkong dollar is now worth $1.60 Kwangtung currency, according to a Chinese report received here} from Canton yesterday. i The appreciation of the Hongkong currency is reported to be due to the restriction at Canton on foreign exchange. There has been an increased demand for cash to meet the payments on imported goods and also large quantities of rice which have been arriving during the month.
The premium on Hongkong dollars over Kwangtung dollars last Wednesday was Hongkong $1,000 to Kwangtung $1,602, while at the closing of! the market on Thursday the rate; receded slightly to Kwangtung $1,600 to Hongkong $1,000. i Although the fluctuation is expected to have very little effect on the! stability of national and provincial i currencies, the Chinese authorities have taken strict precautions to restore normalcy, according to the: report.
Text read from the printed page and cleaned; old type leaves the occasional error.