The recent weakness in USD triggered the so-called “Asian Financial Crisis in reverse.” Taiwan dollar notably surged 10% against the USD. Read more here ...

Hong Kong has no intention and sees no need to change the system that pegs the city's currency in a tight band to the U.S. dollar and has the ability to defend it, the chief executive of Hong Kong ...

Hong Kong’s de-facto central bank spent more than a billion dollars propping up the city’s currency, as it sought to defend a peg that has been strained by volatility in the greenback.

It sells HKD when the currency strengthens beyond HK$7.75 per USD, and buys HKD when it weakens past HK$7.85 per USD. The monetary base remains fully backed by US dollar assets. This provides ...

Hong Kong has initiated stablecoin development and research as mainstream adoption of major stablecoins like USDT and UDSC “remains limited,” OSL exec Davin Wu said.

Eddie Yue made the remarks amid recent strength in the Hong Kong dollar, which surged to a 3-1/2 year high against the U.S. currency last week, not far from testing the strong end of the system's ...