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Economist: The only currency in the world has an impact on the dollar - 4/21/2022


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Economist: The only currency in the world has an impact on the dollar

 

21st April, 2022 / Al-Bayan News

 

The Russian economist, Mikhail Shulgin, spoke of a currency that has an effective impact on the US dollar, referring to the Hong Kong dollar (HKD). Shulgin, who is head of global research at the investment company "Otkritie Investments", said that stability in Asian markets is largely related to the Hong Kong dollar, whose price is closely related to the US dollar, and changes in one of the two currencies may affect the other, according to what was reported by "Russia Today".

 

He added that the system of linking the Hong Kong dollar to the US dollar has proven its feasibility since 1983, as the range of fluctuations is very narrow, with a margin of 1.28%, which gives Hong Kong, as one of the global financial centers, financial and economic stability.

 

The expert pointed out that this makes the Hong Kong dollar one of the alternative currencies to the American currency - the dollar.

 

However, he pointed out that the exchange rate of the US dollar against the Hong Kong dollar has grown significantly this year and approached the upper limit of the acceptable range of fluctuations, in light of expectations to raise the interest rate in the United States, which will lead to an increase in US government bond yields, which will constitute support dollar in the world. 

 

https://www.albayan.ae/economy/global/2022-04-21-1.4419137

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