Hong Kong's central bank says has no plan to change currency peg
[HONG KONG] The head of Hong Kong's central bank said on Monday it has no plans to change the Hong Kong dollar's peg to the US currency despite recent volatility in the market.
Norman Chan, chief executive of the Hong Kong Monetary Authority (HKMA), speaking at the Asia Financial Forum, added that the money market had been operating smoothly so far despite the volatile market.
The Hong Kong dollar fell to more than four-year lows earlier in the day as volatility, weak global markets and capital outflows hurt investor sentiment.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Indian vote body tells X to remove Modi party video targeting Muslims, opposition
Inflation-hit Argentina has a new top banknote, worth just US$10
Trade between Singapore and Asean was at S$295.6 billion in 2023
One out of every 24 New York City residents is a millionaire
Private credit faces pain from high interest rates, Moody’s says
BOE postpones Long-Term Repo Operation due to tech issues