| CP.AR | 09-15-2009 07:44 PM |
Quote:
Originally Posted by wouwou
(Post 6593800)
^
HKD has been dropping like flies
That's good for my shopping I guess
| That statement is both correct, and incorrect though, since HKD is pinned to USD, whereas RMB is pinned to a "collection" of currencies including GBP, EUR, USD, and JPY.
Therefore your statement of HKD dropping is correct RELATIVE to RMB, but not with respect to USD (it has only flucuated only about .5% since 2004. You can see from here the effects of the currency's value over the past 5 years http://www.google.com/finance?chdnp=...:HKDCNY&ntsp=0 | 