1.Reflecting stable monetary conditions and improved investor confidence in the Hong Kong dollar in 1999, the whole spectrum of Hong Kong dollar interest rates moved closer to their US dollar counterparts.
3.Rather than seeking to produce a stable currency themselves, a growing number of Latin American governments are considering importing it -- that is, giving the U.S. dollar legal tender status, a technique known as dollarization.
4.Given the highly externally oriented nature of the Hong Kong economy, this objective is further defined as a stable external value for the currency in terms of a fixed exchange rate against the US dollar at the rate of $7.80 to US$1.
5.On the monetary front, the Hong Kong dollar remained very stable in 1999, moving within a narrow range of $7.746-7.775 to US$1.The stable condition in 1999 reflected in part the successful implementation of the technical measures to improve the currency board system in September 1998.
6.The EERI increased notably in the first quarter to a high of 135 in early March amid a strengthening of the US dollar against the Japanese Yen and the Euro and it then remained stable at around that level during mid-March and mid-July.
