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Hong Kong weakens local currency again

Posted on 25 October 2012

Hong Kong’s central bank has intervened in financial markets again, weakening the value of its currency after it jumped in value.
This follows similar moves on Sunday and pushes the total cost of intervention in the past week to 14.3bn Hong Kong dollars ($1.85bn; £1.16bn). Hong Kong limits the amount its currency can gain or fall to help maintain market and export stability………………………………………..Full Article: Source


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