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It has branches in Hong Kong, Singapore, London and New York. The Hong Kong office (华安公司 SAFE Investment Company Ltd) was set up just in June 1997, before the handover of Hong Kong, and served an important role in defending the value of the Renminbi and Hong Kong dollar's peg to the US dollar against international speculators. It was a ...
Hong Kong uses a linked exchange rate system, trading since May 2005 in the range US$1:HK$7.75–7.85. Apart from its use in Hong Kong, the Hong Kong dollar is also used in neighbouring Macau. It is pegged at 1 Hong Kong dollar to 1.03 Macanese patacas, and is generally accepted at par or MOP 1.00 for retail purchases.
The Hong Kong Monetary Authority (HKMA), Hong Kong's de facto central bank, authorised note-issuing banks to issue banknotes. These banks are required to have the same amount of US dollars to issue banknotes. The HKMA guarantees to exchange US dollars into Hong Kong dollars, or vice versa, at the rate of 7.80. When the market rate is below 7.80 ...
The Hong Kong Monetary Authority ( HKMA) 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 directly to the Financial Secretary. [2]
The US dollar is an official currency in Zimbabwe, along with the euro, sterling, the pula, the rand, and several other currencies. A series of Zimbabwean Bond Coins was put into circulation on 18 December 2014 in 1, 5, 10, and 25 cent denominations, and afterwards 50 cent and 1 dollar bonds coins, which are pegged at the same rate as American ...
The HKMA, which is Hong Kong's central banking institution, acts as the clearing house for Hong Kong dollar (HKD) CHATS. All licensed banks in Hong Kong maintain HKD settlement accounts with the HKMA, and as of June 2000, restricted license banks "with a clear business need" may also open settlement accounts with the HKMA. [4]
An exchange rate between two currencies fluctuates over time. The value of a currency relative to a third currency may be obtained by dividing one U.S. dollar rate by another. For example, if there are ¥120 to the dollar and €1.2 to the dollar then the number of yen per euro is 120/1.2 = 100.
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.