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Black Saturday, 24 September 1983, is the name given to the crisis when the Hong Kong dollar exchange rate versus the United States dollar was at an all-time low. On that day, US$1 exchanged for HK$9.6. [ 1 ]
Stock disaster in 1973 (1973–74 stock market crash) 1980s. Stock disaster in 1983 (Negotiation deadlock between China and United Kingdom on Transfer of sovereignty over Hong Kong) Stock disaster in 1987 (Black Monday) Stock disaster in 1989 (Tiananmen Square protests) 1990s. Bear market from 1997 to 1998 (Asian financial crisis) 2000s
When the market rate is below 7.80, the banks will convert US dollars for Hong Kong dollars from the HKMA; Hong Kong dollar supply will increase, and the market rate will climb back to 7.80. The same mechanism also works when the market rate is above 7.80, and the banks will convert Hong Kong dollars for US dollars.
Fixed exchange rate against the US dollar: Exchange rate: US$1:HK$5.650 (June 1972 – February 1973) US$1:HK$5.085 (February 1973 – November 1974) November 1974 – October 1983 Free floating: Exchange rates on selected days: US$1:HK$4.965 (25 November 1974) US$1:HK$9.600 (24 September 1983) 1983 – present Linked exchange rate system
Investors wait for more tariff talk from Trump and interest rate clues from Fed minutes out Wed. ... The New York Stock Exchange is seen during morning trading on February 03, 2025 in New York ...
The spot exchange rate is the current exchange rate, while the forward exchange rate is an exchange rate that is quoted and traded today but for delivery and payment on a specific future date. In the retail currency exchange market, different buying and selling rates will be quoted by money dealers.
The exchange rate at which the transaction is done is called the spot exchange rate. As of 2010, the average daily turnover of global FX spot transactions reached nearly US$1.5 trillion, counting 37.4% of all foreign exchange transactions. [1] FX spot transactions increased by 38% to US$2.0 trillion from April 2010 to April 2013. [2]
It listed on the Hong Kong Stock Exchange (independently from BOCHK) (SEHK:3988) by floating the largest initial public offering (IPO) in the world by any institution since 2000 on 1 June 2006, raising US$9.7 billion. The IPO attracted HK$286 billion (US$36.7 billion) in retail orders and was the most heavily oversubscribed in the history of ...