| Journal Call no. | HG1302.Q37 |
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| Article Title | Operation of monetary policy / Monetary Policy and Markets Department. |
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| Is Part Of | Quarterly bulletin / Hong Kong Monetary Authority ; no.3, May 1995, p.75-79, illus. |
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| Abstract | In the first quarter of 1995, the linked exchange rate system proved robust in delivering exchange rate stability amidst volatility in the foreign exchange market. Along with the weakening of the US dollar, the Effective Exchange Rate Index (EERI) of the Hong Kong dollar fell moderately by 3% during the quarter. Meanwhile, overnight interbank interest rates moved down from the peak in mid-January and settled down when the exchange rate returned to the prevailing level at around 7.73. |
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