Lowest value: 1982, the dollar appreciated sharply, and the pressure of depreciation of the Hong Kong dollar increased. In September of the same year, British Prime Minister Margaret Thatcher visited Beijing, and all kinds of speculations and rumors were rampant in the society, which triggered a crisis of confidence in Hong Kong people. Within a short period of 1 year after Margaret Thatcher's visit to Beijing, the Hong Kong dollar depreciated 1/3, and the exchange rate of the Hong Kong dollar fell to the lowest 1 9.60 Hong Kong dollars, equivalent to RMB 1:0.779.
Extended data:
The Hong Kong government's monetary policy is pegged to the US dollar. For the Hong Kong government, the exchange rate of 1 US dollar to Hong Kong dollar is 7.75. Hong Kong's official exchange rate fluctuation range between the US dollar and the Hong Kong dollar is 7.75 to 7.85. Since the introduction of 1983, it has been running smoothly for more than 30 years, even at the peak of 1997 Asian financial crisis.
Since the official exchange rate of RMB was formally merged with the foreign exchange swap price 1994 in 2007, the exchange rate of RMB has surpassed Hong Kong dollars for the first time, and RMB is more valuable than Hong Kong dollars for the first time.
At first, the Hong Kong dollar was pegged to the British pound, but after the war, Britain's economic strength weakened and once depreciated sharply, affecting Hong Kong's economy. After the pound floated freely 1972 in June, the Hong Kong government pegged the Hong Kong dollar to the US dollar. The initial exchange rate was HK$ 5.65 to US$ 65,438 +0. 1 February, 973, changed to HK$ 5.0851USD.
Since June 1974 1 1, it has been changed to free floating. Until 1983, the crisis of confidence in Hong Kong's future led to a sharp drop in the exchange rate of the Hong Kong dollar, and once fell to 9.6 Hong Kong dollars 1 US dollar in September of the same year. In June 65438+1 October 65438+July of the same year, then Financial Secretary Peng Lizhi announced that the exchange rate of the Hong Kong dollar was pegged to the US dollar, and it was set at HK$ 7.801US dollar, which has been maintained ever since.
References:
Baidu Encyclopedia-HKD