Reported 2 days ago
A newspaper vendor in Hong Kong’s Central District, Wong, is preparing for a potential crash of the Chinese yuan, which has depreciated significantly against the Hong Kong dollar in recent years. The weakening yuan has prompted changes in consumer behavior, impacting spending by Chinese tourists and prompting Wong to implement a one-for-one exchange rate for cash transactions in yuan. Amid economic pressures, questions regarding Hong Kong's currency peg to the US dollar are also intensifying, as residents express concerns over rising costs due to the yuan's decline.
Source: YAHOO