WeekSevenReadingAssignments

WeekSevenReadingAssignments - SCHOOL OF ECONOMICS AND...

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SCHOOL OF ECONOMICS AND FINANCE UNIVERSITY OF HONG KONG FINA0501 Asian Financial Institutions First Semester 2010-2011 Dr. Patrick Leung SEVENTH WEEK READING ASSIGNMENTS The Management of the Exchange Fund’s Assets (HKMA Annual Report 1995, pp.51-52) (File attached) Brief History of the Exchange Fund (HKMA Quarterly Bulletin, 5/1995) (File attached)
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HISTORY OF THE EXCHANGE FUND 1935 Currency Ordinance (Exchange Fund Ordinance) Bank Notes Issue Ordinance (amended) One Pound = HK$16 1941.45 Japanese Occupation, Duress Notes 1944 Bretton Woods System One oz. of Gold = US$35, Pegged Exchange Rate System 1945 US$4.03 = One Pound 1949 US$2.80 = One Pound 1964 Transfer of HK$150 million from EF to DLF 1967 US$2.40 = One Pound; One Pound = HK$14.55 1968 Sterling Guarantee Agreement Sterling Exchange Guarantee Scheme 1972 Pound floated; US$1 = HK$5.65 1973 Bretton Woods System abolished; US$1 = HK$5.085 1974 HK$ floated 1976 Coinage Security Fund and FX Assets of Government General Revenue Account transferred to Exchange Fund 1983 Linked Exchange Rate System; US$1 = HK$7.80 1985 Plaza Accord 1988 New Accounting Arrangement between EF and HSBC 1990 EF Paper Program launched
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Exchange Fund Abridged Balance Sheet
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WeekSevenReadingAssignments - SCHOOL OF ECONOMICS AND...

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