The CNH is the offshore version of the Chinese Yuan. It is regulated by the Hong Kong Monetary Authority (HKMA), thus there are 2 competing currencies in Hong Kong.
A recent idea is to merge it with the Hong Kong Dollar, thus providing instant credibility.
“The obvious answer is to combine the dead HK dollar with the embryonic CNH. This would be a completely independent, floating currency not fungible with the CNY. The CNY would be used for current account transactions such as exports and imports, while the new Chinese dollar (HKD/CNH) would cater for capital account financial transactions.”http://blogs.ft.com/beyond-brics/2012/06/24/fund-file-hk-dollar-route-to-rmb-convertibility/
No comments:
Post a Comment