HKMA CEO Strongly Defends US-Dollar Peg Amid Concerns - PRESS AI WORLD
PRESSAI
All categories
Recent Posts
side-post-image
Over One Million Flee Sudan Conflict to South Sudan, UN Reports
user-iconGloria Terra
side-post-image
Desperate Gazans Unearth Bodies Amidst Ruins, Seeking Dignified Graves for Lost Loved Ones
user-iconGloria Terra
Contact Phone:
Economy

HKMA CEO Strongly Defends US-Dollar Peg Amid Concerns

share-iconThursday, January 09 comment-icon1 week ago 8 views
News sources:
scmpSCMP
HKMA CEO Strongly Defends US-Dollar Peg Amid Concerns

Credited from: SCMP

  • The CEO of HKMA, Eddie Yue Wai-man, firmly rejected any change to the Hong Kong dollar's peg to the US dollar, which has been in place for 41 years.
  • Yue emphasized that there is no intention to alter the Linked Exchange Rate System (LERS), despite rising speculation following geopolitical tensions.
  • He pointed out that the market has been functioning smoothly under the current peg of HK$7.80 per US dollar, even with various critics voicing concerns.
  • Yue stressed the importance of the peg for Hong Kong's economy, noting that the city has substantial foreign reserves exceeding US$420 billion, enhancing financial stability.
  • The HKMA continues to receive endorsements from market experts who regard the LERS as the most effective monetary arrangement for maintaining economic stability in Hong Kong.

For the full article, visit South China Morning Post.

SHARE THIS ARTICLE:

TAGS:

Hkma Us-dollar peg Hong kong Economy Monetary policy Lers
author-dp

Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

nav-post-picture
date-iconJanuary 09, 2025 Geraldo Rivera Threatens to Punch Trump Advisor Stephen Miller Over Immigration Policies
date-iconJanuary 09, 2025 Marvin Mims Jr. Emerges as Key Offensive Weapon for Broncos Ahead of Playoffs
nav-post-picture
Related Posts
main-post-image
POLITICS
Jimmy Lai Denies Foreign Collusion While Acknowledging Push for US Sanctions Against Officials
date-iconJan 22, 2025
main-post-image
POLITICS
Hong Kong Minister Demands Report as Greater Bay Airlines Faces Cancellation Crisis
date-iconJan 22, 2025
main-post-image
WORLD NEWS
Hong Kong's New Tourism Blueprint: Embracing Technology and Inclusivity to Enhance Visitor Experience
date-iconJan 22, 2025
main-post-image
WORLD NEWS
Hong Kong's Tourism Revitalization: Embracing Technology and Innovation
date-iconJan 21, 2025
main-post-image
POLITICS
Trump's Day 1 Executive Orders Mark a Departure from the Biden Administration
date-iconJan 21, 2025
main-post-image
POLITICS
TikTok Ceases Operations Amid US Ban, Appeals to President Trump for Support
date-iconJan 19, 2025

Stay Connected

main-post-image
World News
Daily Muhurat Update (January 19, 2025): Tithi, Festivals, Auspicious Yogas, Rahu Kaal for Los Angeles and New York City
date-icon January 19, 2025
main-post-image
World News
South Korean President Yoon Suk Yeol Faces Political Turmoil and Court Violence Amid Impeachment Proceedings
date-icon January 20, 2025
main-post-image
Politics
Elon Musk's Controversial Salute Sparks Political and Social Debate
date-icon January 22, 2025
main-post-image
World News
Moments of Awe: From Viral Tigress Riddhi to Influencers’ Turmoil and Tourist Tales
date-icon January 17, 2025

Tags

Stay informed effortlessly with PRESS AI WORLD, the AI-powered news summarizer that delivers concise, easy-to-read global headlines tailored to your interests.

Categories

Recent Posts

side-post-image
Over One Million Flee Sudan Conflict to South Sudan, UN Reports
user-iconGloria Terra
side-post-image
Desperate Gazans Unearth Bodies Amidst Ruins, Seeking Dignified Graves for Lost Loved Ones
user-iconGloria Terra
© 2025 All rights reserved | PRESS AI WORLD