| Journal Call no. | HG1302.Q37 |
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| Article Title | Hong Kong's currency board arrangements. |
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| Is Part Of | Quarterly bulletin / Hong Kong Monetary Authority ; no.3, May 1995, p.18-20. |
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| Abstract | Currency boards involve the issue of currency against the full backing of a foreign currency. They provide a strong financial discipline but until recently most currency boards had been replaced over time by central banks operating more flexible exchange rate regimes. In Hong Kong foreign reserves more than cover the entire monetary base. Notwithstanding the Hong Kong Monetary Authority (HKMA)'s capacity to undertake money market operations, the Hong Kong system remains a currency board. |
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