The Adequacy of Hong Kong's Foreign Reserves

HONG KONG - Experience suggests that Hong Kong needs considerably more in foreign reserves than the bare theoretical minimum to maintain currency stability, says Joseph Yam, chief exexcutive of the Hong Kong Monetary Authority in his weekly viewpoint column published on the HKMA website.

"The Adequacy of Hong Kong's Foreign Reserves"

By Joseph Yam

I have recently been asked the question of how much in foreign reserves do we need to ensure that our monetary policy objective of exchange rate

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