DJIBOUTI FRANC EXCHANGE RATE

UNCLAS DJIBOUTI 000020

SIPDIS

FOR ANGEL UYTINGCO/SHERRY CONNOLLY

E.O. 12958: N/A
TAGS: AFIN
SUBJECT: DJIBOUTI FRANC EXCHANGE RATE

REF: A) E-MAILS BETWEEN WILLIAM BOOTH, DONALD SIMMONS,
ANGEL UYTINGCO, FSC CHARLESTON, AND JAMES MUTTOM,
DJIBOUTI; B) EXCHANGE RATE REPORT CABLES DECEMBER 2004
AND JANUARY 2-4, 2005


1. FOR MANY YEARS, THE OFFICIAL EXCHANGE RATE USED BY
THE EMBASSY HAS BEEN USD 1.00 = DF 176.95. EXCHANGE
RATE REFLECTED IN EXCHANGE RATE REPORT CABLES FOR
DECEMBER 2004 AND JANUARY 2-4, 2005, ARE NOT/NOT
ACCURATE REPRESENTATION OF LOCAL MARKET RATE FOR
DJIBOUTI FRANCS. POST ENQUIRED AT THE BANQUE POUR
COMMERCE ET L'INDUSTRIES DJIBOUTI, THE BANK USED FOR
OUR USDO ACCOUNT, AND FOUND THAT THE EXCHANGE RATE FOR
THE USDO ACCOUNT IS FIXED AT THE RATE DF 177.15 = USD
1.00. THE BANK CONFIRMED THAT THIS RATE IS LIKELY TO
REMAIN STABLE FOR THE FORESEEABLE FUTURE.


2. POST REQUESTS DJIBOUTI FRANC EXCHANGE RATE BE FIXED
AT USD 1.00 = DF 177.00 FOR ALL EMBASSY TRANSCATIONS.

RAGSDALE