Dollar-yuan becomes Hong Kong’s most-traded currency pair for first time
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SHANGHAI, Aug 13 : The U.S. dollar-Chinese yuan has become the most-traded currency pair in Hong Kong, surpassing the Hong Kong dollar-U.S. dollar for the first time in April, the financial hub’s Treasury Markets Association said.
• Average daily foreign exchange turnover in Hong Kong rose to $908.2 billion in April, the TMA said in its semi-annual survey published this week.
• Average daily turnover in the U.S. dollar-yuan pair climbed to $274 billion, accounting for about 30.2 per cent of the city’s total foreign exchange transactions. That compared with $198.6 billion in the previous survey.
• Average daily turnover in the Hong Kong dollar-U.S. dollar pair also increased, reaching $240.2 billion.
• Beijing and Hong Kong authorities have unveiled a range of measures to bolster currency, bond and gold trading in Hong Kong, stepping up efforts to establish the city as a leading offshore yuan centre amid heightened geopolitical tensions.
Source: Reuters
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