A HK$10 dollar banknote, a US$100 dollar banknote, and 100 yuan banknotes in a picture illustration on January 21, 2016. Photo: REUTERS
A HK$10 dollar banknote, a US$100 dollar banknote, and 100 yuan banknotes in a picture illustration on January 21, 2016. Photo: REUTERS
Currencies
Business /  Money

Hong Kong’s weak dollar is a victim of northbound investments rushing into the stock exchanges of Shanghai and Shenzhen

  • The Hong Kong Monetary Authority has spent nearly US$1 billion this month to prop up the local currency, keeping it within a trading band against the US dollar
  • Equity investors are selling the Hong Kong dollar to buy yuan for trading in Chinese stocks through the Connect schemes

Bloomberg
Bloomberg

Updated: 10:28am, 19 Mar, 2019

Why you can trust SCMP
A HK$10 dollar banknote, a US$100 dollar banknote, and 100 yuan banknotes in a picture illustration on January 21, 2016. Photo: REUTERS
A HK$10 dollar banknote, a US$100 dollar banknote, and 100 yuan banknotes in a picture illustration on January 21, 2016. Photo: REUTERS
READ FULL ARTICLE