Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Demand for US Dollars Surges in Hong Kong As China Imposes New Security Law Crackdown

by Daily Hodl Staff
May 31, 2020
in Futuremash
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

China has imposed a new national security law on Hong Kong, effectively limiting its independence and driving residents to convert millions of Hong Kong dollars into US dollars in unprecedented demand.

Fear and unrest have persisted in Hong Kong since China’s ongoing suppression of Hong Kong’s citizen protests that began last year. The new national security law, which passed unanimously, is a major step to dismantle the territory’s autonomy.

Shibani Mahtani, Asia and HK bureau chief for the Washington Post, posted a video on Twitter showing the tense atmosphere in Hong Kong.

The national security bill isn’t even here yet and today Hong Kong already resembles a police state pic.twitter.com/YgDIzhPliK

— Shibani Mahtani (@ShibaniMahtani) May 27, 2020

Eric Wong Wai-lam, who runs Rich Bird (HK) Currency Exchange in Sham Shui Po, says demand for the US dollar increased 10-fold this week.

“The US dollar is out of stock everywhere. We’ve offered every last bit of our supplies to our customers.”

South China Morning Post also reports that long lines formed on Friday as residents waited for shop operators to replenish their US dollar supplies so they could exchange their money.

Hong Kong Monetary Authority chief executive Eddie Yue Wai-man confirms, however, that the city’s currency will remain pegged to the US dollar and that he has not noticed fund outflows.



Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
  • What’s the Role of Bots in Crypto Trading?
    December 3, 2020
Submit a Guest Post
Bitcoin
$37,011.00
$37,011.00
2.55%
Ethereum
$1,365.97
$1,365.97
11.89%
XRP
$0.305760
$0.305760
10.07%
Litecoin
$163.27
$163.27
14.55%
Bitcoin Cash
$525.89
$525.89
9.42%

Spotlight

  • Top Crypto Lawyer Says New SEC Chief Will Boost Bitcoin – But XRP Is Another Story
    January 13, 2021
  • Billionaire Investor Says Central Banks Will Stop at Nothing To Clamp Down on Bitcoin
    January 17, 2021
  • Top US Banking Regulator Grants Federal Charter to Crypto Firm Anchorage
    January 14, 2021
  • Prominent Analyst Says Three Crypto Assets Will Follow Polkadot’s Raging Rally and Surpass XRP
    January 18, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.