The Appointed Minister Resident in Saudi Arabia ( Moose ) to the Secretary of State
[Received 6:27 p.m.]
55. Department’s 20 to Jidda, 735 to Cairo, June 3, 8 p.m. Despite decline of sovereign to $21, riyal continues to appreciate. George sovereign now brings only 40¾ riyals in Socal [local?] Bazaar. Today’s scarcity value of riyal is 51.53 cents. Its value one year ago was 26.93 cents.[Page 872]
British authorities have agreed to supply additional 100,000 sovereigns to Saudi Government and anticipated early receipt of gold should make riyal go still higher.
Repeated to Cairo.