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Hong Kong central bank confident in currency peg even as interbank rate jumps Under the currency peg, the HKMA is obliged to intervene when the Hong Kong dollar hits 7.75 or 7.85 to keep the band intact. The currency traded at 7.8475 against the U.S. dollar at 0343 GMT while a key lending rate that could push up borrowing costs climbed to new highs. The three-month interbank ...
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Raids conducted on cash hoarders amid currency crunch in India NEW DELHI, April 19 (Xinhua) -- Amid reports of recent cash crunch in parts of the country, Indian tax authorities are conducting raids on possible cash hoarders, official sources said Thursday. Mostly, the currency notes of Rupees 2,000 denomination have gone missing from ATMs in the affected areas, ...
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