Cryptocurrency Q&A
Is HKD fixed to USD?
Is HKD fixed to USD?
Alessandra
Tue Oct 08 2024
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6 answers
1408
I understand that you may have some confusion regarding the Hong Kong Dollar (HKD) and its relationship with the US Dollar (USD). So, let me clarify this for you. Are you asking if the Hong Kong Dollar is pegged to the US Dollar? If so, the answer is yes. The Hong Kong Monetary Authority maintains a policy of linking the value of the Hong Kong Dollar to the US Dollar at a rate of approximately 7.80 HKD to 1 USD. This system, known as the Linked Exchange Rate System, has been in place since 1983 and has helped to maintain stability in the Hong Kong economy. However, it's important to note that while the HKD is pegged to the USD, it is not a fixed exchange rate system, and the HKD can still fluctuate within a narrow range around the pegged rate. Does this help answer your question?
6 answers
Sofia
Thu Oct 10 2024
The Hong Kong Monetary Authority employs an intricate and transparent Currency Board system, known as the Linked Exchange Rate System (LERS).
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Nicola
Wed Oct 09 2024
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KpopStarletShineBrightness
Wed Oct 09 2024
This system serves as a vital pillar in maintaining the stability of the Hong Kong dollar.
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Maria
Wed Oct 09 2024
The LERS operates by ensuring that the exchange rate of the Hong Kong dollar remains within a narrow band of HK$7.75-7.85 against the US dollar.
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HanRiverWave
Wed Oct 09 2024
This stability is crucial for Hong Kong's monetary and financial systems, providing a solid foundation for economic growth.
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