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  • October 22, 2014
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  1. Business - Money

    HKMA defends currency peg, sells HK$6.2b

    Posted Dec 11th 2012, 03:26pm

    ... Reuters in Hong Kong The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, stepped into the currency market on Tuesday, selling HK$6.2 billion (US$800 million) in Hong Kong dollars as the local currency repeatedly hit the strong end of its trading range. According to Reuters data, the latest intervention will lift the aggregate balance- the sum of balances ...

  2. Business - Money - CURRENCY

    HKMA in HK$12 billion currency cooling measure

    Posted Dec 12th 2012, 12:00am by PAGGIE LEUNG AND ENOCH YIU

    ... Kong Monetary Authority stepped into the currency market again yesterday to weaken the Hong Kong dollar as the rush of "hot money" continues to flow into the city. The de facto ... the local currency. Such action is not unprecedented in the city. The authority was obliged to intervene significantly during the global financial crisis that began in 2008 to manage an inflow ...

  3. Currency remains a long-term prospect

    Posted May 09th 2011, 12:00am

    ... Beijing confirmed plans for setting up yuan settlement and clearing centres with other countries, the latest step designed to raise the currency's profile while also promoting development ... of getting into the yuan. In particular, they were ready to cite the expectation of continued appreciation against the United States dollar and other hard currencies, the ease of transactions in Hong ...

  4. HK, mainland seal 200b yuan currency swap

    Posted Jan 21st 2009, 12:00am by Cary Huang

    ... billion) currency swap, part of Beijing's efforts to support the city's depressed economy and bolster financial stability in the region. The HKMA said yesterday the move was intended ... have access to yuan from the mainland central bank for three years, whenever the city needed 'short-term liquidity support', the PBOC said yesterday. Currency swap lines allow ...

  5. HKMA move on currency unlikely

    Posted Oct 30th 2007, 12:00am by Staff Reporter

    ... Maria Chan The Hong Kong Monetary Authority is unlikely to repeg the currency or widen the trading band with the US dollar any time soon, even though the local unit remains strong, ... (Hong Kong). The local currency stood at 7.7509 in the late session yesterday after falling to 7.7513 at one point during the day. The Hong Kong dollar has remained strong despite an injection ...

  6. An insight into the workings of Hong Kong's currency peg

    Posted Sep 10th 2007, 12:00am by Jake Van Der Kamp

    ... that the much-vaunted automatic adjustment process of their textbook currency board could not entirely be relied on in practice. They preferred to give the impression that the rate was guided towards 7.80 ... Mr Currency Board himself, who almost convinced Indonesian President Suharto to adopt one in 1997. This is a timely book. The peg may be under no special strain at the moment ...

  7. HK currency strength may spark wave of stop-loss sales

    Posted Oct 08th 2003, 12:00am by Staff Reporter

    ... propelling the local currency yet higher. The psychologically important HK$7.70 level against the US dollar was left untouched, partly due to profit taking on stocks, which lessened the need for Hong ... late in Asian trading yesterday, it could break through in European or US trading hours when liquidity was thinner, the dealer added. By the close, the local currency was at $7.7106, up from ...

  8. Currency measure unlikely to reduce appetite for IPOs

    Posted May 20th 2005, 12:00am by Staff Reporter

    ... Foster Wong Rising interest rates following a new local-currency trading band may cool hot money inflows but Hong Kong's initial public offering market is likely to keep bubbling ... continuing privatisation of state-owned enterprises. 'The Hong Kong Monetary Authority's new measure on the local currency will have an impact on capital fund flows in the short term,' ...

  9. Business - Banking & Finance - CURRENCIES

    Hong Kong needs to develop global network to maintain its leading role in yuan business

    Posted Feb 18th 2014, 02:17pm by Enoch Yiu

    ... says Chan Hong Kong must play an active role in developing an international network for cross-border business in the yuan if it is to maintain its leadership in a global market for the currency ... campaign to internationalise its currency. First, firms were allowed to use the yuan to settle trades, then from 2010 to make yuan dominated investments. But to realise the country's ambition ...

  10. News - Hong Kong - CURRENCIES

    Monetary Authority intervenes to hold down value of the Hong Kong dollar

    Posted Oct 21st 2012, 12:00am by Yvonne Liu

    ... Yvonne Liu and Bloomberg A flow of hot money into Asian currencies and markets forces the first intervention in 3 years HKMA steps in to check HK dollar The Hong Kong Monetary Authority intervened in the currency markets for the first time in nearly three years yesterday to hold down the value of the Hong Kong dollar. The currency has been pushed close to the upper limit of its ...




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