Editorial Note
On February 25 the won settlement negotiations were ostensibly concluded. The total amount agreed upon was $85,800,000 in payment for all won drawings through February 6, 1953 ($82,800,000 for won drawings prior to December 16, 1952, and $3 million for drawings since that time up to February 6 at the rate of 18,000 won to the dollar). As of February 26, the Republic of Korea converted its currency from won to hwan. Beginning February 25, the United Nations Command bought hwan at the rate of 180 to the dollar, and under the terms of the agreement, the rate would be adjusted April 30 and every three months thereafter based upon changes in the Pusan wholesale price index. (Memorandum by McClurkin, February 25, 1953; 895B.131/2–2553)