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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] For a period, Hong Kong stores began quoting products in US dollar prices, because of the uncertain fluctuation in domestic currency.
The exchange rate between the Hong Kong dollar and the United States dollar was fixed at HKD $7.8 = US$1. The Hong Kong Monetary Authority's exchange fund was responsible for keeping the market rate stable. [10] In the short period from just a decade previously, inflation would also increase from 5% in the 1970s to 12.7% by 1983. [11] 10 Hong ...
Organ trade (also known as the blood market or the red market) is the trading of human organs, tissues, or other body products, usually for transplantation. [1] [2] According to the World Health Organization (WHO), organ trade is a commercial transplantation where there is a profit, or transplantations that occur outside of national medical systems.
AKI - the other main type of kidney disease - can be caused by dehydration, blood loss, urinary tract obstructions such as kidney stones or blood clots, low blood pressure, or heart disease. It ...
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
The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation, almost free port trade and a well-established international financial market. [15] [16] Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, [17] and is pegged to the US dollar.
In energy trading, benchmark U.S. crude rose 36 cents to $72.08 a barrel. Brent crude, the international standard, added 34 cents to $74.98 a barrel. In currency trading, the U.S. dollar inched ...
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