The Hong Kong dollar is strengthening at a record pace in more than 20 years due to strong inflows into local stocks and favorable money market conditions. Over the past 30 days, the currency has grown by 1% against the US dollar, the fastest growth since 2003. On Monday, the exchange rate reached 7.77 per dollar, and the monthly increase was the highest in two years. The growth in demand for the currency is largely due to the activation of investors from mainland China, who have increased their investments in Hong Kong stocks. An additional factor was the quarterly surge in the need for liquidity. Against this background, the so–called aggregated balance decreased by almost 70% from the June peak to HK$54 billion ($7 billion). It is noteworthy that a month ago, HKD quotes were at the lower limit of the 7.75-7.85 per dollar currency range, which forced the Hong Kong Monetary Authority to intervene. Analysts now expect a retest of the 7.75 mark with a further weakening of the dollar, an increase in interest in stocks and a reduction in the rate difference between the United States and Hong Kong.
БЪРЗИ ЛИНКОВЕ
Свържете се с нас 
