Not be Devalued Local Exchange Report Hongkong, June 12. Meuera, Drakeford, Davis & Witton Tiree Cast Duster "In order to allay any un-Mighest tg Lowest certainty caused by recent ait movements of Chinese exchange, I am authorized to state that the Hongkong Government has no intention of devaluing the Hongkong dollar, or of making any change in the policy pursued since 1936 by the Hongkong Exchange Fund." ready and was unchanged at 4234 and Bombay iwas 2 annas up at 62.05.
it was reported speculators sold [There was small indian buying. Business small. Market quietly steady. After the official fixing the market ruled quietly firm. The Amer jean trade bought "at myth over the fixed rate.
The local exchange market openes Jwith sellers to merchants at 6} Sterling and 12% USS.
'The Interbank market was weak and it was only support at 644 cash which kept it from dropping away under pressure of buying. Forward rates fell away rapidly' and after about 1030 there were practically no for~ ward transactions "Interbank, At the lose there was a slightly steadier feeling and nominal quotations were:
This statement was made the Financial Secretary of the Colonial Government today, in connection with the Hong-Kong dollar.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.