Why Hong Kong’s Currency Is Still Rock Solid

When the future of Hong Kong was hanging in the balance during Sino-British handover talks, the city’s currency lost around a third of its value against the dollar in just 12 months. The Hong Kong government then decided in 1983 to peg its currency to the dollar to restore confidence. The exchange-rate system put in place then should once again weather the turmoil the city is facing. Could the protests that have embroiled Hong Kong for more than 100 days bring down the 36-year peg?  The worries are understandable: Fixed-exchange-rate…

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!