Hard Currency

Looming US dollar shortage could wreak massive damage

Yesterday the yuan fell to its weakest against the US dollar since late last year. In just the last couple of months, the Chinese currency has fallen 1.3 per cent.

Tuesday, 26 June, 2012, 12:00am

Asian economies wrestle imported inflation

A STORY THAT IS getting increasing play on the prospects for Asian currencies has it that Asian countries cannot continue to rig their exchange rates at artificially weak levels against the US dollar as rising prices for imported goods will clobber their economies.

26 Mar 2004 - 12:00am

Strong euro could help Hong Kong turn the corner

I HAVE SEEN it all before. In the autumn of 1983, with the Hong Kong dollar collapsing just before the peg was adopted, the big business story was not the woes of the Hong Kong dollar but the joys of the price of gold, joys, that is, if you got that price in Hong Kong dollars.

19 Dec 2002 - 12:00am

Euro seen to remove big risk factor for investors

The introduction of a single European currency will make it easier and faster for Hong Kong firms to invest in Europe, the deputy foreign minister of Germany said yesterday.

Werner Hoyer, who was speaking at an Asia Society luncheon, said that by boosting economic growth and removing uncertainty it would also contribute to global currency stability.

18 Feb 1998 - 12:00am

Foreign units in BOC soar

PRIVATE foreign currency deposits in the Bank of China (BOC) rose US$1.944 billion in the first seven months of the year, Xinhua (the New China News Agency) reports.

The figure, 110 per cent more than that for the same period last year, also exceeded last year's total increase of $1.67 billion, BOC official Wang Shaohong said.

3 Sep 1993 - 12:00am

The golden rule helps in valuing currencies

IS CURRENCY A over-valued and currency B under-valued? In these treacherous years of floating rates and the perversity of linked currencies and money with no intrinsic value, the exchange rate of currencies is in purgatory.

1 Aug 1993 - 12:00am

Pilot plan to permit yuan float

CHINA is taking a step towards making the yuan fully convertible with the launch of a pilot scheme in Guangzhou allowing foreign travellers to change foreign money directly into yuan.

The pilot scheme, to be launched before June, will effectively float the yuan against other currencies on an open foreign exchange market.

13 Apr 1993 - 12:00am

Stores take mainland currency

LOCAL department stores have announced they will accept mainland currency in a move which some bankers believe could upset the money supply.

And concerns have been raised that shoppers could be confused by stores which show price-tags in local and Chinese currencies.

13 Mar 1993 - 12:00am

Moscow trip makes deals

COMPANIES have returned from Moscow having sewn up $50 million worth of orders, largely for clothing and footwear.

The Trade Development Council (TDC), which organised the 28-strong local mission to the Consumexpo trade fair, said the five-fold increase in orders was fuelled by greater availability of hard currency.

2 Feb 1993 - 12:00am