The Hong Kong dollar ended little changed against the US dollar on Thursday, with the imminent year end keeping trading in a narrow range.
The local currency was trading at 7.7531/33 per US dollar, compared with 7.7529/30 in late Asian trade on Wednesday. It traded between 7.7530 and 7.7538 during the day.
But some dealers said the local currency was likely to keep a firm bias in 2006 due to persistent speculation of a possible further yuan revaluation and more stock offerings by major Chinese companies in Hong Kong, which should draw foreign funds into the city.
The yuan, which was revalued by 2.1 percent on July 21 to 8.11 per US dollar, rose to a fresh post-revaluation high of 8.0709 per dollar on Thursday.
Comments
Comments are closed.