The Exchange Fund, the war chest that Hong Kong uses to defend its currency, dropped by 1 per cent as of the end of November, the HKMA says. Photo: Dickson Lee

Hong Kong Monetary Authority says local currency deposits dropped only 0.1 per cent in November, in further sign of banking system resilience

  • Not a sign of funds flowing out, HKMA’s deputy chief executive says
  • Active IPO market pushes exchange rate to a two-and-a-half year high in further boost to banking system
Topic |   Banking & Finance
The Exchange Fund, the war chest that Hong Kong uses to defend its currency, dropped by 1 per cent as of the end of November, the HKMA says. Photo: Dickson Lee
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