Event Brief of Q1 2008 Comerica Incorporated Earnings Conference Call - Final
(Agencies) Updated: 2008-05-08 11:49 Bank of China Ltd, the only yuan clearing bank in Hong Kong, said it raised transaction costs for conversions between the city's currency and the yuan more than sevenfold. Bank of China's Hong Kong branch widened the spread between the cost of buying and selling Hong Kong dollars for the mainland currency to 0.75 percentage point from 0.10 point on May 5, said Clarina Man, spokeswoman at the bank. Hong Kong has stuck with a peg of about HK$7.8 to the dollar that began in 1983, eroding the value of its residents' savings as the US...
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photo: AP photo / Ng Han Guan
