Search results
Results from the WOW.Com Content Network
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 same mechanism also works when the market rate is above 7.80, and the banks will convert Hong Kong dollars for US dollars. The Hong Kong dollar is backed by one of the world's largest foreign exchange reserves, which is over 7 times the amount of money supplied in circulation or about 48% of Hong Kong dollars M3 at the end of April 2016. [3]
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
In 1985, 20-dollar notes were introduced, whilst, in 1993, a 10-dollar coin was introduced and the banks stopped issuing 10-dollar notes. In 1994, the Hong Kong Monetary Authority (HKMA), gave authority to the Bank of China to issue notes. The 1-cent note issued by the Government was demonetised and ceased to be legal tender on 1 October 1995.
The one-cent banknote was the smallest denominated banknote issued in Hong Kong. They were issued by the government and were initially released on 30 May 1941 and printed by Noronha and Company Limited [1] to provide small change because of a lack of coinage brought on by the Second World War. The first issue was 42 by 75 mm, the obverse was ...
For premium support please call: 800-290-4726 more ways to reach us
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
Disney+ and Hulu have dropped one of the hottest streaming deals of the year. You can sign up for both services right now for just $2.99 a month for an entire year — that's a yearly savings of $96.