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The HKMA guarantees to exchange US dollars into Hong Kong dollars, or vice versa, at the rate of 7.80. When the market rate is below 7.80, the banks will convert US dollars for Hong Kong dollars from the HKMA; Hong Kong dollar supply will increase, and the market rate will climb back to 7.80.
By this arrangement the HKMA guarantees to exchange United States dollar into Hong Kong dollars and vice versa, at the rate of 7.80. When the market rate is below 7.80, the banks will convert United States dollar for Hong Kong dollars from the HKMA, Hong Kong dollars supply will increase, and the market rate will climb back to 7.80.
3.4 Hong Kong dollar as exchange rate anchor. 4 Conventional peg. Toggle Conventional peg subsection. ... US Dollar (37) Euro (28) Composite (8) Other (9)
In 2010, China's annual level of inward foreign direct investment (FDI) reached a record US$106 billion. [2] As of 2013, China is the world's second-largest economy, with an estimated nominal gross domestic product (GDP) of US$8.25 trillion and a total international trade value of US$3.64 trillion.
Full currency substitution has mostly occurred in Latin America, the Caribbean and the Pacific, as many countries in those regions see the United States Dollar as a stable currency compared to the national one. [9] For example, Panama underwent full currency substitution by adopting the US dollar as legal tender in 1904.
The key currency generally refers to a world currency, which is widely used for pricing, settlement, reserve currency, freely convertible, and internationally accepted currency. Cross rate: After the basic exchange rate is worked out, the exchange rate of the local currency against other foreign currencies can be calculated through the basic ...
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.
Contact us; Contribute Help; Learn to edit; Community portal; Recent changes; ... Hong Kong two-dollar coin; HSBC (Hong Kong) J. Japanese military currency (1937 ...