Reported 2 days ago
Eddie Yue Wai-man, CEO of the Hong Kong Monetary Authority, strongly defended the Linked Exchange Rate System (LERS) that fixes the Hong Kong dollar to the US dollar, dismissing recent media concerns about its stability due to geopolitical tensions. Yue emphasized that there is no intention or necessity to change the system, citing Hong Kong's robust foreign reserves and the credibility of the LERS in maintaining financial stability. Despite suggestions to align the peg with the yuan, Yue reinforced the importance of the US-dollar peg for attracting global investors and ensuring regional and global financial stability.
Source: YAHOO