The Hong Kong dollar traded at 7.7535 versus the greenback as of 4:50 p.m. local time. The Hong Kong dollar is pegged to the U.S. dollar in a band that ranges between 7.75 and 7.85 to the U.S. dollar. In turn, Macau’s pataca is fixed to the Hong Kong dollar at an exchange rate of 1.03. As the Hong Kong dollar is pegged to the greenback, both special administrative regions essentially import U.S. monetary policy. In addition, a global shortage of U.S. dollars could boost the Hong Kong dollar as a proxy.

Source: The Local March 30, 2020 09:00 UTC