Hong Kong Peg Turning 30 as Another Decade Forecast: Currencies
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Banny Lam recalls how, in the first nine months of 1983, he helped his family stockpile rice as a drop of more than 30 percent in Hong Kong’s dollar led to panic-buying of goods.
“Sometimes the shelves would be empty,” said Lam, the 41-year-old co-head of research at Agricultural Bank of China International Securities Co. in Hong Kong. “At that time, we just didn’t know what would happen tomorrow with the currency.”