ECONOMY | Staff Reporter, Hong Kong

Currency peg with the US dollar stays put

Hong Kong does not intend to make changes even with US’ recent credit rating.

A Reuters report noted, “Hong Kong has no plans to change its currency peg with the U.S. dollar, despite Standard and Poor's stripping the United States of its top-tier AAA credit rating, the head of the city's de facto central bank said.”

The Hong Kong dollar has been pegged to the U.S. currency at a rate of HK$7.75-HK$7.85 per dollar since 1983. “Calls for repegging the Hong Kong currency to the strengthening yuan or a basket of currencies have gained momentum since the United States implemented loose monetary policy,” said the report.

View the report here.

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