Should the US ban the HKMA from accessing its currency, it will also harm the city’s efforts to combat the economic crisis the pandemic has unleased. Photo: Edmond So
Should the US ban the HKMA from accessing its currency, it will also harm the city’s efforts to combat the economic crisis the pandemic has unleased. Photo: Edmond So
Hong Kong national security law (NSL)
Business /  Banking & Finance

Explainer |
The Hong Kong dollar’s 36-year-old peg to the US dollar will survive current tensions between the US and China – here’s why

  • Hong Kong does not need US approval to keep the peg going
  • The US can ban the HKMA or other lenders from trading US dollars, but that may trigger a global market slump, and even endanger Trump’s re-election

Enoch Yiu
Enoch Yiu

Updated: 8:44pm, 29 May, 2020

Why you can trust SCMP
Should the US ban the HKMA from accessing its currency, it will also harm the city’s efforts to combat the economic crisis the pandemic has unleased. Photo: Edmond So
Should the US ban the HKMA from accessing its currency, it will also harm the city’s efforts to combat the economic crisis the pandemic has unleased. Photo: Edmond So
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