TNAG-1483-FCO40-2037-Economic-situation-in-Hong-Kong-1986 — Page 29

:

(2)

exchange rate system, against most major currencies which has helped to improve the price competitiveness of Hong Kong's products. The growth in domestic exports has been particularly strong in markets such as the Federal Republic of Germany and Japan, where the currency appreciation against the Hong Kong dollar has

has been relatively large. The growth in domestic exports to China also recovered.

(2)

/Growth

Percentage changes of the Hong Kong dollar and of the currencies of Hong Kong's major competitors against the currencies of Hong Kong's major markets during the twelve months ending September 1986:

US$

Pound sterling

DM

Yen

HK dollar

-0.1

-2.7

-24.4

(0.2)

(2.7)

(-12.7)

-29.2 (-14.4)

Singapore dollar

-1.6

-4.2

-25.5

-30.3

(0.3)

(2.8)

(-12.6)

(~14.3)

Korean Won

1.9

-0.8

-22.9

-27.8

(1.1)

(3.6)

(-11.9)

(-13.6)

New Taiwan dollar

11.1

8.2

-15.9

-21.3

(8.7)

(11.3)

(-5.3)

(-7.1)

Notes : Figures indicate appreciation (+) or depreciation (-) of the currencies listed vertically against the currencies listed horizontally.

() % changes during the six months ending September 1986.

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