{"id":1299,"date":"2016-11-29T10:54:56","date_gmt":"2016-11-29T10:54:56","guid":{"rendered":"http:\/\/www.makemoneytradingreviews.com\/?page_id=1299"},"modified":"2020-09-21T09:08:58","modified_gmt":"2020-09-21T09:08:58","slug":"hksfc-registered","status":"publish","type":"page","link":"https:\/\/www.makemoneytradingreviews.com\/hksfc-registered\/","title":{"rendered":"HKSFC Forex Brokers and the Hong Kong Economy"},"content":{"rendered":"
Hong Kong is a city-state in China, which is part of the country as a district with a government and many, fully or partly, independent institutions. The Hong Kong Dollar is a significant Asian currency, being the eighth most traded currency in world of Forex markets. Strictly regulated, it\u2019s also an important offshore market to Chinese Yuan, forming a rather complicated and big foreign currency exchange market.<\/p>\n
<\/a>The economy of Hong Kong depends significantly on international cooperation. Therefore, Hong Kong\u2019s primary focus was to become a major financial center and to maintain that status. The low taxes attract many investors and Forex companies to benefit from the lucrative offers. The Hong Kong economy is an open-type economy and known for being a host to many international companies. The national currency is the Hong Kong dollar which is pegged to the USD in the ratio 1,75527 HKD = 1 USD. The issuance of the HKD relies heavily on the USD reserves, which indicates that the USD backs up the HKD. The HKD cannot be issued if there is no corresponding amount of USD as deposit. Also, it is not used as a reserve currency in Asia unlike the Japanese Yen. Still, the HKD is one of the top rated currencies in the Forex market which indicates its importance in the industry. Maybe one of the reasons is that the interest rate on the HKD is significantly lower. Despite being one of the tradable currencies in Forex, it is speculated that the HKD will cease to exist when China allows the Chinese currency Yuan to float freely. According to speculation, this is very likely to happen, moreover, it is inevitable.<\/p>\nBest Forex Brokers<\/h3>\n