Funding & Business
Hong Kong Dollar Bounces Back on Stock Inflows, Hibor Surge
The Hong Kong dollar strengthened to the middle of its fixed trading range against the greenback for the first time since May, buoyed by stock inflows and a surge in local borrowing costs.
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For investors, the risk from France’s unstable politics lies beyond Monday’s confidence vote in Parliament, when François Bayrou is likely to lose his premiership.
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Bangladesh’s central bank is working to boost its reserves to about $40 billion by the end of the fiscal year in June in an effort to stabilize its exchange rate, Governor Ahsan H. Mansur said.
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The People’s Bank of China increased its gold holdings in August for a 10th month, in a continued push to diversify its reserves away from US dollars.
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