pegged from the greenback.

The hope, however, is that the fiscal reserves and protections of the
Basic Law, including its prohibition of the government running a significant deficit as an effort to
stimulate the economy, would be enough to support the currency.

The government and the Monetary Authority are focused on protecting the currency and the fiscal
reserves, but some worry this manifests in neglect of social welfare spending, while billions sit in the
public coffers.

Interesting facts about the Hong Kong dollar

● One of the world’s most traded currencies

● Pegged to the US dollar at HK$7.80

● Used in Macau, where the local currency, the pataca, has a similar value

● Design and colour vary by denomination and issuer

● In January, HK$20 billion was withdrawn from Macau ATMs - SCMP

Read more at https://www.thestar.com.my/business/business-news/2018/03/25/why-does-hong-
kong-government-have-so-much-cash/#vz83BldTLLylRxp8.99