Hong Kong Dollar
The Hong Kong dollar is pegged to the US dollar by a currency board. This obsolete arrangement is also used by other economies such as Bermuda, Antigua and Barbuda, and the Cayman Islands.Monday, 6 May, 2013, 2:55am
For the past 10 years, Hong Kong's economy has been boosted by twin external superchargers. Now, both are in danger of breaking down.2 May 2013 - 3:47am 13 comments
The yuan will eventually be a feasible currency for Hong Kong to peg its dollar against, in place of the US dollar, said John Greenwood, known as the "father of the Hong Kong-dollar peg".30 Apr 2013 - 4:48am 7 comments
Repeated interventions in the Hong Kong property market by officials, particularly former chief executive Donald Tsang Yam-kuen and Financial Secretary John Tsang Chun-wah, have caused havoc for ordinary Hong Kong citizens.9 Mar 2013 - 2:31am
The city's Exchange Fund, which had its second-best investment gain on record in 2012, will invest more in yuan-denominated bonds and shares this year.15 Jan 2013 - 5:42am
If they are not quite down on their knees at the Hong Kong Monetary Authority (HKMA), there is a least a silent prayer emanating from that tall office block with the set of roof claws from the movie Alien.8 Jan 2013 - 7:45am
The city's de facto central bank again sold down the Hong Kong dollar yesterday to maintain the currency peg to the US dollar as so-called hot money continued to pour in.22 Dec 2012 - 2:36am
The latest round of US monetary easing has put Hong Kong's de facto central bank on high alert over the outlook for inflation as the prospect of more speculative money finds its way into the city's economy.14 Dec 2012 - 3:00am
The Hong 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 central bank intervened twice, selling a total of HK$12.013 billion in Hong Kong dollars, in a move to maintain the exchange rate within its official limits.12 Dec 2012 - 4:22am
Hong Kong Monetary Authority chief executive Norman Chan Tak-lam has warned of volatile investment markets ahead, due to hot money flowing into the city.
The city's central bank has already bought US$7 billion by selling the same amount of Hong Kong dollars since mid-October, Chan said on the sidelines of an economic forum.11 Dec 2012 - 2:55am
HKMA sells HK$3.875b to weaken HK dollar8 Dec 2012 - 3:49am
The Hong Kong Monetary Authority sold HK$3.875 billion on the foreign exchange market yesterday to weaken the Hong Kong dollar as the currency repeatedly hit the strong end of its trading range. Under the peg to the US dollar, the HKMA must intervene when the Hong Kong dollar hits 7.75 or 7.85, to maintain the trading band.5 Dec 2012 - 4:59am
S&P maintains China's sovereign debt ratings
Standard & Poor's affirmed China's sovereign long-term credit rating of AA-minus and short-term rating of A-1-plus in an annual report yesterday and said the outlook remains stable, citing the country's "exceptional" growth prospects, holdings of overseas assets and modest government indebtedness. Bloomberg
8 May 2015 - 9:46am
HKMA sells HK$3.1b to weaken HK dollar
The Hong Kong Monetary Authority sold HK$3.1 billion in the currency markets to weaken the local dollar, preventing it from strengthening past its trading peg with the US dollar, after the US dollar hit HK$7.75, the lower end of the trading band between the local unit and the greenback.
28 Nov 2012 - 2:34am
"Stronger yuan to bring Hong Kong higher food prices", warned a headline in last Saturday's South China Morning Post.
The article that followed quoted a clutch of importers and retailers, all saying much the same thing.7 Nov 2012 - 4:47am 3 comments