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What will happen to the Hong Kong Dollar now?
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Usa2019
Posts: 79 Forumite
HKD is currently pegged against the us dollar. 1USD = 7.75-7.85 HKD
Obviously it won't happen overnight, but what if it does unpeg against the USD. what will happen to the HKD? I presume hkd will depreciated, does that mean it will go up as in 1Usd = 10 HKD, or will it go down 1usd= 5hkd
What is the procedure? Who get to decide? How long would it take?
Obviously it won't happen overnight, but what if it does unpeg against the USD. what will happen to the HKD? I presume hkd will depreciated, does that mean it will go up as in 1Usd = 10 HKD, or will it go down 1usd= 5hkd
What is the procedure? Who get to decide? How long would it take?
0
Comments
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If the peg breaks then the hkd will drop such that it will take more hkd to buy 1 USD. The market will decide the rate but it won't be good for anyone invested in hk or the hkd.
As to the rate, an example of a weaker hkd might be
1 USD = 10 hkd0
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