893.24/1599: Telegram

The Chargé in China ( Atcheson ) to the Secretary of State

790. Embassy’s 768, May 24, 3 p.m., special exchange regulations. Adler informs us that the Stabilization Board has tacitly approved the new special exchange regulations for foreign Embassies and consular offices by “taking note” of them and not raising our [any] nation [objection] to them and also by requesting Ministry of Finance to instruct Central Bank to report to the Board monthly exchanges sold to and bought from foreign Embassies and consular offices. In the light of this circumstance and as article 3 has been clarified, we assume that, in the absence of instructions to the contrary and pending the making of other possible arrangements, we may take advantage of new rate which benefits the Government and brings much needed, if only temporary, relief to members of the staff.

It is understood that British and other foreign diplomatic missions are similarly availing themselves of the new rate.