Forex Investment and Currency Trading

Hong Kong initiated its present currency board and peg to USD in October 1983 – a period of volatility in local markets sparked by Sino-British negotiations on the territory’s reversion. The Hong Kong dollar had floated freely between 1974 and 1983, and before then was pegged to GBP. Initially, its modern currency board operated in a strict, non-discretionary fashion, with periodic interventions mostly on the strong side as the USD slumped in the late 1980s. But over time, and particularly after the HKMA was launched in 1992, its operations became more complex. In March 1994 the HKMA announced that it [...]

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