Property News · March 2, 2020

Financial system remains steady despite ‘shocks’ of coronavirus, protests, says Hong Kong Monetary Authority, even as currency takes a tumble


Hong Kong’s currency has slipped from a recent three-year high as the deadly coronavirus outbreak unfolded, but the city’s de facto central bank insists the financial system remains stable despite the epidemic’s heavy toll on the economy.The Hong Kong dollar has weakened by 0.3 per cent to 7.783 per US dollar since February 5, when it reached 7.763 – its strongest level since March 2017.The local currency moved from the strong end towards the centre of its narrow trading band of 7.75 to 7.85…

Source : South China Morning Post
Read more…Financial system remains steady despite ‘shocks’ of coronavirus, protests, says Hong Kong Monetary Authority, even as currency takes a tumble

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