Hong Kong’s currency will not be revalued,...
Hong Kong’s currency will not be revalued, according to a senior official from the colony, who denied there had been any direct approach from Washington to do so. The Hong Kong dollar is linked to the value of the U.S. dollar; weakness of the American currency since October’s global stock market crash has meant a boom for Hong Kong’s exports to the United States. U.S. officials see the link of 7.8 Hong Kong dollars to one U.S. dollar as failing to reflect the British colony’s economic strength.
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