Inkstone
    Apr
    12
    2018
    Apr
    12
    2018
    Why is the HK$ pegged to the US$?
    Why is the HK$ pegged to the US$?
    BUSINESS

    Why is the HK$ pegged to the US$?

    arrow left
    arrow right
    close button
    Play
    Play
    Subscribe to the Inkstone newsletter
    By registering you must agree to our T&Cs

    The Hong Kong dollar has fallen to 7.85 per US dollar, its weakest level in 35 years.

    It touched the lower limit of the range of its peg to the US dollar.

    The Hong Kong dollar was pegged at 7.8 per US dollar since October 1983, and in 2005 a trading band of 7.75 to 7.85 was introduced.

    The city’s de facto central bank, the Hong Kong Monetary Authority, said that it will intervene to support the currency only if Hong Kong’s banks request it.

    But why is the HKD pegged to the USD? Watch our video to find out.

    Subscribe to the Inkstone newsletter
    By registering you must agree to our T&Cs
    arrow right
      Rotate the screen
      Please rotate for best experience.
      Your privacy is important. We wish to inform you what data we collect from you and how we process such data. Our Privacy Notice aims to comply with all relevant data privacy and protection laws. You should read the Privacy Notice in full here.