Hong Kong Forex Market has grown up in the last thirty years and the volume of trade in the same has increased by a percentage rate hovering around 26 % during the period between 1989 and 1992.
Hong Kong Forex Market is believed to be one of the largest financial centers in the world and is perhaps has a ranking of three. The daily turn over in the Hong Kong Forex Marketduring the early 1990s on an average is around sixty billion US dollars and its world ranking in this sphere is six. In the same year this market had posted a robust growth rate of around fifty percent.
The nature of the Hong Kong Forex Market is basically non speculative but the new monetary authority pledges to be more aggressive in nature. They want to implement such aggressiveness in order to form a concrete base for the Forex market where the forces in work are basically consistent in nature with least erratic behavior.
According to the government agencies of Hong Kong, the economy has been able to deliver a budget surplus of 4.8 billion Hong Kong Dollars during the first quarter of 2007. This phenomenon is expected to act as a positive impetus for Hong Kong Forex Market.
Hong Kong Monetary Authority (HKMA) has estimated that the economy’s income from investment has been recorded to be around 47 billion Hong Kong Dollars during the starting period of June 2007. In relation to the previous year’s performance, the investment income during this fiscal year has already posted a growth of fifty three percent.
In the month of April of the year 2004, the net turn over of the foreign exchange along with the transactions in the derivatives section of the OTC market on a daily basis has been recorded to be one hundred and seventeen billion US Dollars. In relation to the fiscal year 2001, this reserve has appreciated by almost sixty five percent. If the transactions in the derivatives section of the OTC market are excluded then the net turnover of the foreign exchange on a daily basis has been recorded to be one hundred and two billion US Dollars.