VALUE OF THE PIASTRE

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP82-00457R000200030010-9
• Release Decision: RIPPUB
• Original Classification: C
• Document Page Count: 1
• Document Creation Date: November 9, 2016
• Document Release Date: February 1, 1999
• Sequence Number: 10
• Publication Date: December 11, 1946
• Content Type: IR

Approved For Release 1999/09/0SNMW82-00457R0
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' "'RAL INTELLIGENCE GROUP
INTELLIGENCE REPORT
COUNTRY French indo China - Siam - China
SUBJECT Value of the piastre
25X1A6a
ORIGIN
25X1X6
DATE: 25X1 X6
25X1A2g
DIST- 11 December 1946
PAGES I
SUPPLEMENT
10 The head of the Bank of indo China branch in Bangkok
L Dillon--Carnac, stated the extraordinary depreciat on
of the piastre in the black market is principally traceable
to the fact that the Chinese occupation forces in Tonkin,
were paid in piastres, the bulk of which they took back
to China. The troops looted most of what they needed in
Tonkin and hence did not spend many piastres.
2. The Chinese are now trying to rid themselves of these piastres
through-al? the money markets in the East. The result in
Bangkok for example, is that despite the depreciation of
the baht to 22 or 23 to the U.S. dollar, the piastre is selling
at approximately 2 to the baht. The purchase of piastres
probably offers an attractive speculation as, according to
informant, the French will undoubtedly attempt to restore the
true value of the piastre to something approaching its official
value.
NO in Class.
D DECLAS.. 'P')
Class. CrIAIjC;-) T's C C
DDA Mcrvno, r'7
Auth: DDA REG. 7`~ .a:
Date: By:
25X1 A9a
CLASSIFICATION CONFIDE
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