More than half of Hong Kong banknotes held outside territory
Research published by the Hong Kong Monetary Authority (HKMA) on Monday estimates that between 50% and 70% of the country's currency was being circulated outside Hong Kong at the end of 2009, mostly in high denomination banknotes.
The large external circulation, which would be equivalent to about $100-140 billion, was mainly the result of increased economic integration between mainland China and Hong Kong, with a thriving gaming industry in Macao providing an extra boost.
Although economic
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