A man changing currency in Sham Shui Po on May 29, 2020. Photo: Edmond SoA man changing currency in Sham Shui Po on May 29, 2020. Photo: Edmond So
A man changing currency in Sham Shui Po on May 29, 2020. Photo: Edmond So

Hong Kong steps in to weaken the local dollar, as hot money inflows defy doomsday talk of capital flight after China’s security law

  • Hong Kong’s monetary authority sold HK$15.31 billion of local dollars on Monday and Tuesday to weaken the currency and bring it back within its trading band
  • Hong Kong’s de facto central bank had to intervene 24 times this year, spending up to HK$72.94 billion to maintain the dollar’s trading band

Topic |   Currencies
A man changing currency in Sham Shui Po on May 29, 2020. Photo: Edmond SoA man changing currency in Sham Shui Po on May 29, 2020. Photo: Edmond So
A man changing currency in Sham Shui Po on May 29, 2020. Photo: Edmond So
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