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e. A linked exchange rate system is a type of exchange rate regime that pegs the exchange rate of one currency to another. It is the exchange rate system implemented in Hong Kong to stabilise the exchange rate between the Hong Kong dollar (HKD) and the United States dollar (USD). The Macao pataca (MOP) is similarly linked to the Hong Kong dollar.
Since 1983, the linked exchange rate system is a unique type of exchange rate regime used for the Hong Kong dollar to be pegged with the United States dollar at a fixed rate of HK$7.80 = US$1.
The Hong Kong Monetary Authority (HKMA) (Chinese: 香港 金融 管理 局; Jyutping: Hoeng1 gong2 gam1 jung4 gun2 lei5 guk2) is Hong Kong's central banking institution. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisation reports ...
v. t. e. This is a list of countries by their exchange rate regime. [1] De facto exchange-rate arrangements in 2022 as classified by the International Monetary Fund. Floating (floating and free floating) Soft pegs (conventional peg, stabilized arrangement, crawling peg, crawl-like arrangement, pegged exchange rate within horizontal bands) Hard ...
The Association was renamed the Hong Kong Stock Exchange in 1914. A second exchange, the Hong Kong Stockbrokers' Association was incorporated in 1921. The two exchanges merged to form the Hong Kong Stock Exchange in 1947 and re-establish the stock market after the Second World War.
This is a list of circulating fixed exchange rate currencies, ... Hong Kong dollar: 1.03 Macedonian denar: ... Fixed exchange rate system; References
A fixed exchange rate system can also be used to control the behavior of a currency, ... Hong Kong (since 1983); Argentina (1991 to 2001); Estonia (1992 to 2010);
In October 1997, the Hong Kong dollar, which had been pegged at 7.8 to the U.S. dollar since 1983, came under speculative pressure because Hong Kong's inflation rate had been significantly higher than the United States' for years. Monetary authorities spent more than $1 billion to defend the local currency.