It also earns a large amount of overseas income each year, averaging almost 50 percent of GDR Exports of services and incomes from abroad thus account for almost 90 percent of GDE External volatility still has a significant impact on the Hong Kong economy even without the
Hong Kong dollar peg.
Should the
Hong Kong Dollar Exchange Bate Be Repegged to the Renminbi?
The decrease was mainly attributable to the redemption of Certificates of Indebtedness and the decline in the exchange rate of US dollar against
Hong Kong dollar. The backing ratio decreased from 106.95% at the end of February 2016 to 106.78% at the end of March 2016.
Former hairdresser turned soccer boss Yeung also confirmed that he had received a further 10 million
Hong Kong dollars of winnings (PS800,000) into his father's account in March 2006.
The decline in
Hong Kong dollar assets was mainly due to withdrawals of placements by Fiscal Reserves and the fall in market value of Hong Kong equities, which were partly offset by additional placements from HKSAR Government funds and statutory bodies.
Hong Kong -- The Hong Kong Monetary Authority has sold $603 million worth of
Hong Kong dollars in the foreign exchange market in an effort to curb the currency's rise.
The total foreign currency reserve assets represent nine times the currency in circulation or 48% of
Hong Kong dollar M3.
Hong Kong's Monetary Authority bought near US$1.01 billion from the market and injected the respective amount of local currency into the market Wednesday to defend the
Hong Kong dollar's peg to the U.S.
"Our economic fundamentals are sound and we have huge currency reserves, worth more than US$92billion (pounds 57billion), which have helped us withstand recent pressure on the
Hong Kong dollar."
Hong Kong: Bank of China (Hong Kong) Limited announces that its
Hong Kong Dollar prime rate and
Earlier on Friday the bank injected HKD2.325bn into the market as the
Hong Kong dollar repeatedly hit the top of its trading band.
