Hong Kong Dollar's Peg To Greenback Holds Key To Future Of HK Forex Market
BANKS
The recent turmoil in Hong Kong's forex market has raised questions as to the future of the Hong Kong dollar's peg to the US currency. While many market participants say Hong Kong's currency board will be able to maintain the peg despite speculative attacks, others see this as the beginning to the end of the peg.
Lam Kun Kim, regional head of Asian currencies at Citibank in Singapore, forecasts the de-pegging of the domestic currency by late 1998, which could in turn trigger a resurgence in the
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