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 HK$ Peg

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Kevin
spur'don
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spur'don
Edgar Davids
Edgar Davids
spur'don


Number of posts : 3552
Registration date : 2007-06-07

HK$ Peg Empty
PostSubject: HK$ Peg   HK$ Peg EmptyThu Nov 01 2007, 12:08
You have to wonder how long the HKD can remain pegged to USD. The two economies couldn't be more different.

HKG 16.11 - GBP 1.

I'm beginning to wish I wasn't going to UK for Christmas.
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Kevin
Jason Dozzell
Jason Dozzell
Kevin


Number of posts : 116
Registration date : 2007-06-06

HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg EmptyThu Nov 01 2007, 12:35
I know exactly what you mean Jeremy - the pain is just as bad when we compare the USD/HKD vs. AUD.

However there are bets in the market that the HKMA may abanbon the pegging system.. Look at the link

http://www.bloomberg.com/apps/news?pid=20601087&sid=anzE7Mhb9Xtw&refer=home
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GDG
Edgar Davids
Edgar Davids
GDG


Number of posts : 2576
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HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg EmptyThu Nov 01 2007, 13:19
There may be bets, but I can't see it happening any time soon.
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Sam
Paolo Tramezzani
Paolo Tramezzani
Sam


Number of posts : 258
Registration date : 2007-06-24

HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg EmptyThu Nov 01 2007, 13:31
I also feel that my saving is shrinking. USD is so weak that it makes HKD weak too. HKMA brought the USD several times seems that HKD will continuously go with USD.
AUD and other high interests currency are in historical high.
Stock Market is in hisrotical high too.
Any suggestion to keep your saving?
scratch
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Daniel
Founding Father
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Daniel


Number of posts : 3520
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HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg EmptyThu Nov 01 2007, 13:36
transfer your HK dollars to another, stronger currency.
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ezza
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ezza


Number of posts : 1702
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HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg EmptyThu Nov 01 2007, 13:40
Under the matress. An old biscuit tin is quite useful too.
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spur'don
Edgar Davids
Edgar Davids
spur'don


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HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg EmptyThu Nov 01 2007, 14:25
Daniel wrote:
transfer your HK dollars to another, stronger currency.

Yes, only problem is witht he USD/HKD at a historical low you can't help think we've left it too late. Same story with the stock market.

I reckon best option is to spend all your money on booze before it's worthless.
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Daniel
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Daniel


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HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg EmptyThu Nov 01 2007, 14:29
it may top 20 beofre it gets better.
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spur'don
Edgar Davids
Edgar Davids
spur'don


Number of posts : 3552
Registration date : 2007-06-07

HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg EmptyThu Nov 01 2007, 14:31
GDG wrote:
There may be bets, but I can't see it happening any time soon.

On the whole I would agree, but HK imports most of it daily essentials from China and this is going to cause inflation to kick in. The government can hardly raise interest rates to curb inflation.
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spur'don
Edgar Davids
Edgar Davids
spur'don


Number of posts : 3552
Registration date : 2007-06-07

HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg EmptyFri Nov 02 2007, 22:27
The Hang Seng Index lost 1,024 points - or 3.2 percent.

Ouch.
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Daniel
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HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg EmptyFri Nov 16 2007, 22:11
I'm with Jay-Z

http://news.bbc.co.uk/1/hi/business/7097736.stm

we need to un-peg ASAP
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HK$ Peg Empty
PostSubject: Re: HK$ Peg   HK$ Peg Empty
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