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On 17 October 1983, the Hong Kong dollar was officially pegged to the U.S. dollar at a rate of HK$7.8 = US$1, officially switching back to the currency board system. The peg of Hong Kong dollar to the U.S. dollar in 1983 actually took place in the context of Sino-British negotiation regarding the future of Hong Kong after 1997.
A linked exchange rate system is a type of exchange rate regime that pegs the exchange rate of one currency to another. It is the exchange rate system implemented in Hong Kong to stabilise the exchange rate between the Hong Kong dollar (HKD) and the United States dollar (USD).
The Interest Rate Adjustment Mechanism is an automatic system that maintains the stability of the Hong Kong dollar exchange rate. Lately the HKMA has been disclosing the forecast change in the Aggregate Balance attributes to increase the transparency of the Currency Board operation.
Total Hong Kong dollar deposits dropped 0.1 per cent in November, the Hong Kong Monetary Authority said on Tuesday, in a sign the city's banking system had held up amid the ongoing anti-government ...
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The Hong Kong Monetary Authority (HKMA) will study the feasibility of a digital currency over the next 12 months. The HKMA, the city's de facto central bank, will include users' privacy, security ...
The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation, almost free port trade and a well-established international financial market. [15] [16] Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, [17] and is pegged to the US dollar.
The Hong Kong dollar is bumping against the top end of its narrow 7.75-7.85 band against the U.S. dollar and is among the best-performing currencies this year even as the city's economy struggles ...