KatieAnderson
Sat Jun 08 2024
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5 answers
1201
What is the largest currency in Hong Kong?｜The is divided into 100 cents and issued in seven denominations: 10c, 20c, 50c, HK$1, HK$2, HK$5 and HK$10. The Hong Kong dollar, the ninth most traded currency globally, is not a floating currency. It is pegged to the US dollar with a narrow trading band.Hong Kong dollar
Could you please elaborate on the Hong Kong dollar? I'm curious to know more about its denominations and its status as the ninth most traded currency globally. Also, could you explain what it means for the Hong Kong dollar to be pegged to the US dollar with a narrow trading band? How does this affect its value and stability?
Alessandra
Sat Jun 08 2024
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6 answers
1236
Is the Hong Kong dollar weak?｜, prompting the HKMA to buy nearly 289 billion Hong Kong dollars ($37 billion) from banks to shore up its value, according to statistics released by the authority early last month.Since last May, the currency has touched 7.85, the weak end of the band, more than 40 times
Is the Hong Kong dollar currently experiencing a period of weakness? Has the weakness been severe enough to prompt significant intervention by the Hong Kong Monetary Authority (HKMA)? Could you elaborate on the statistics released by the authority, which indicate that the HKMA has purchased nearly 289 billion Hong Kong dollars ($37 billion) from banks? How does this compare to previous instances of currency intervention? Additionally, what impact has the Hong Kong dollar touching the weak end of its trading band, 7.85, more than 40 times since last May had on the overall financial stability of Hong Kong?
