The central bank spent HKD33.1bn last month as the Hong Kong dollar
fell to the weak end of its trading band.
Under the new law, the maximum sentence will increase to a 10 million Hong Kong dollar
(PS920,000) fine or 10 years in prison, up from the current top penalty of two years.
HONG KONG (CyHAN)- The following are foreign exchange rates against Hong Kong dollar
released by the Bank of China (Hong Kong) Limited on Friday:
Critics of the Hong Kong dollar
peg blame it for causing a housing bubble and aggravating wealth inequality, inflation, and economic volatility.
LONDON, Muharram 24, 1433, Dec 19, 2011, SPA -- Following are the middle exchange rates for leading currencies against the euro, according to Reuters: CURRENT HIGH LOW US Dollar 1.3027 1.3043 1.298 Japanese Yen 101.4 101.6 101.24 British Pound 0.8385 0.8419 0.8382 Swiss Franc 1.2198 1.2213 1.2151 Danish Crown 7.4332 7.4339 7.43 Norwegian Crown 7.754 7.7795 7.739 Swedish Crown 8.9829 9.0355 8.9755 Australian Dollar 1.3095 1.3129 1.3066 Canadian Dollar 1.3486 1.3552 1.3462 Hong Kong Dollar
10.1393 10.1505 10.1049 Russian Rouble 41.7435 41.7795 41.549 Singapore Dollar 1.6996 1.7013 1.6943 REUTERS 1653 191211 --SPA 18:30 LOCAL TIME 15:30 GMT
Our first survey of the day showed the dollar losing .032 percent against the Hong Kong dollar
currency to the Hong Kong dollar
at a rate of US$1 to between HK$7.75 and HK$7.85.
Third, should the Hong Kong dollar
exchange rate be repegged to the renminbi?
On Wednesday, the monetary authorities of the Chinese territory introduced a trading band for the Hong Kong dollar
between HK$7.75 and HK$7.85 per the U.S.
Following this statement residents of Hong Kong began to buy canned and preserved foods from supermarkets, the Hong Kong dollar
took a slight knock and stocks fell.
So far, the government has insisted it will not devalue the renminbi or the Hong Kong dollar
. However, in June the vice foreign trade minister, Sun Zhenyu, stated if the yen continues to weaken, China would be under greater pressure to devalue.