The Venezuelan government recently announced a de facto 95% devaluation of the bolivar and in the process pegged it to the value of the government’s newly issued crypto-come-oil-currency This will be an interesting development to follow. Not least because it is the first time a government or central bank has pegged to a cryptocurrency (the …read more
In light of the currency board arrangement which pegs the HKD to the USD at a level of 7.80, the Hong Kong dollar’s decline this year represents a sizeable exchange rate move.
In this blog post we investigate the causes and discuss the implications for the Hong Kong Monetary Authority’s currency arrangement.
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