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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 Macao pataca (MOP) is similarly linked to the Hong Kong dollar.
The Hong Kong dollar (Chinese: 港元, sign: HK$; code: HKD) is the official currency of Hong Kong. It is subdivided into 100 cents. Historically, it was also subdivided into 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar.
Black Saturday (1983) Black Saturday, 24 September 1983, is the name given to the crisis when the Hong Kong dollar exchange rate versus the United States dollar was at an all-time low. On that day, US$1 exchanged for HK$9.6. [1] For a period, Hong Kong stores began quoting products in US dollar prices, because of the uncertain fluctuation in ...
The Big Mac Index is a price index published since 1986 by The Economist as an informal way of measuring the purchasing power parity (PPP) between two currencies and providing a test of the extent to which market exchange rates result in goods costing the same in different countries. It "seeks to make exchange-rate theory a bit more digestible ...
The US dollar is an official currency in Zimbabwe, along with the euro, sterling, the pula, the rand, and several other currencies. A series of Zimbabwean Bond Coins was put into circulation on 18 December 2014 in 1, 5, 10, and 25 cent denominations, and afterwards 50 cent and 1 dollar bonds coins, which are pegged at the same rate as American ...
The Boston Globe, also known locally as the Globe, is an American daily newspaper founded and based in Boston, Massachusetts. The newspaper has won a total of 27 Pulitzer Prizes. [4] The Boston Globe is the oldest and largest daily newspaper in Boston and tenth-largest newspaper by print circulation in the nation as of 2023.
The United States and Hong Kong have strong economic and social ties together. There are some 1,300 U.S. firms, including 726 regional operations, and about 85,000 American citizens living in Hong Kong. [35] According to U.S. Government statistics, U.S. exports to Hong Kong totaled $17.8 billion in 2006.
The United States-Hong Kong Policy Act, or more commonly known as the Hong Kong Policy Act (S. 1731 Pub. L. 102–383) or Hong Kong Relations Act, is a 1992 act enacted by the United States Congress. It allows the United States to continue to treat Hong Kong separately from Mainland China for matters concerning trade export and economic control ...