Hong Kong Dollar Drops To 10-Month Low

January 14, 2016

NewsStandOnline.Net (14-January-2016): The Hong Kong dollar fell as much as 0.09 percent versus the greenback to HK$7.7666, the weakest level since March 2015, as the city’s stocks sank to a three-year low.

Hong Kong dollar drops to 10-month low

The currency has retreated 0.2 percent so far this year, though remains toward the stronger end of the HK$7.75-HK$7.85 trading range permitted by the city’s exchange-rate system.

The benchmark Hang Seng Index of shares dropped 1.7 percent, headed for its lowest close since September 2012. The yuan declined 0.3 percent versus the greenback in offshore trading, its first decline in a week.