Chapter 148.9: The exchange rate plummeted

What should come is still coming.

Yin Jun's strength in Xiangjiang and the sky-high advertising fees of Kylin Satellite TV cannot hide the dilemma that Xiangjiang is now exhausted.

Just a week ago, the Association of Banks in Hong Kong announced that it would raise the deposit rate by 1.5%, reaching an all-time high of 7%.

Many people may not understand 7%, but if the annual interest rate is 7%, many people will suddenly understand.

So high!?

Alipay, WeChat, Jingdong and Suning, etc., are only about 4.5%, although there was a short happy day of 6% before, but it was still suppressed by the five major commercial banks, and it can maintain 4.5%, which is already the result of the efforts of many electronics groups.

Today's Xiangjiang is also, even in 73 or 74 years, there is no such high time.

The key is that the interest rate on the best loan in Hong Kong has plummeted to about 10%.

The two benefits combined, but they still did not save the decline of the Hong Kong dollar exchange rate.

A week later, on September 14, the exchange rate of the Hong Kong dollar against the US dollar continued to decline without hesitation, falling to 7.89 Hong Kong dollars per US dollar.

After the Iron Lady's shocking fall, in a year, the Hong Kong dollar depreciated by nearly one-third!

On September 1st, this exchange rate was still 7.3!

It stands to reason that this should be a very undervalued Hong Kong dollar, which has deviated far from the trajectory of the market.

But the people didn't care about this at all, they just felt that the Hong Kong dollar was about to be finished, and they started a new round of crazy selling of Hong Kong dollars and going to the bank to exchange dollars.

Heung Kong Commercial Bank also ushered in a new round of runs.

It's just that this run is not to take cash, but to exchange Hong Kong dollars for US dollars.

Heung Kong's financial policy is the principle of free trade, everything goes according to the laws of the market, customers come, want to exchange currency, you have to deal with it.

If not, the only way to do so is to close the business urgently, or suspend the business.

Then the reputation of your bank will be affected, people will be disgusted with you, and the business may be greatly reduced in the future.

But in many cases, for the sake of the bank's survival, there is no way for you not to suspend these businesses, so many small and medium-sized banks in Hong Kong have recently limited the amount of US dollars that can be exchanged per day.

That is, HSBC, Standard Chartered Bank and Hang Seng Bank do not have any restrictions.

However, according to the internal situation, they are also actively preparing countermeasures, and they are also going to make some changes.

There are still restrictions on Heung Kong Commercial Bank, others have a daily limit of 100-500 US dollars, and they give a limit of 300-800 US dollars.

That's a lot more than other banks, and they've been queuing up to exchange dollars every day lately.

I don't know where the news came from, but some newspapers in Xiangjiang began to report on the problem of Yin Jun's current funds.

"Yin Jun has secretly converted all the funds in his hand into US dollars!?"

"Jun Shao is not optimistic about the future of the Hong Kong dollar, and he has a huge sum of 2 billion US dollars in his hand!"

"Could it be that even the pride of Xiangjiang has given up on Xiangjiang?"

"Even Yin Jun is going to retire, what are you waiting for? What are you doing with Hong Kong dollars?"

"Hong Kong dollars and US dollars, how to choose? Yin Jun has given us the best answer!"

“……”

Looking at these reports, Yin Jun smiled bitterly.

He knew that he had a lot of dollars in his hands, and there was no way to hide it.

No one said it before, it doesn't mean that no one has said it all the time.

It must be an ulterior motive to say it now at such a critical time.

On the one hand, it is related to speculating on the exchange rate, and on the other hand, it is also pouring dirty water on Yin Jun.

Haven't you always said that you are optimistic about Hong Kong?

Don't you think Xiangjiang will definitely get through it?

Why did you convert all your liquidity into US dollars?

Isn't this about running away?

Of course, that's not a big deal.

For example, when Le Yiling, the executive president of Kirin Group, went to the Governor's Palace for a meeting, he sneered when a reporter asked this question.

"The vast majority of our Kirin Group's income is in US dollars, and we don't hold US dollars in our hands, do we still hold yen?"

"Why don't you exchange it for Hong Kong dollars? You idiots, aren't you? We pay for foreign goods, as well as all kinds of debts and repayments, all of them are settled in US dollars! How idiotic do I have to be, so that I will first exchange US dollars for Hong Kong dollars and put them in my account, and then exchange them for US dollars again when we need to use them? As an amateur like you, you are still a financial reporter?"

"I would like to state once again that we at Kirin Group have absolute confidence in Hong Kong! This confidence is not proved by holding US dollars or Hong Kong dollars! This is related to our business strategy, not on behalf of our position!"

“……”

Okay, Sister Le was so mad that the news of Kirin Satellite TV was broadcast that night, so that everyone in Xiangjiang could see it.

Don't say it, it's not easy to believe people when you speak softly.

But this fiery impatient attitude is easy to reassure.

What made Yin Jun feel strange was that the Xiangjiang government had not taken any substantive measures against all this chaos.

The Governor and the Financial Secretary only spoke briefly to keep everyone confident in Hong Kong, but they did not come up with any solutions.

If Yin Jun hadn't known that they would have made a ruthless move in October, he would have wondered if these officials had given up on Xiangjiang.

However, the issue of exchange rates is not the hottest topic in Hong Kong recently.

The hottest and most tense topic in Hong Kong is the fourth round of negotiations to be held in Huajing.

From the 18th to the 24th, the two sides will hold another round of negotiations for a whole week, hoping to achieve a satisfactory result for both parties.

The three Davids in Hong Kong, including Kylin Satellite TV, have sent dozens of interview crews to understand and know the process of the negotiations at a close distance.

In fact, in the third round of negotiations, there was not much tension in the atmosphere, and there was no disagreement and the heat that began to do it without saying a word, but after calming down, everyone still found that there were irreparable differences.

So even though there was a lot of discussion and a lot of ideas, there was still no progress in the third round.

The fourth round of negotiations, which is now being looked forward to, is mainly because both China and Britain have seen the current chaos in Hong Kong, and in order to get Hong Kong back on track as soon as possible, then it is necessary to make a breakthrough in the negotiations.

A number of recent television programs have been devoted to discussions among experts about the fourth round of negotiations.

More than 80% of the experts feel that there will definitely be a breakthrough in this round of negotiations, at least there are signs of breaking the ice, otherwise Xiangjiang is really finished.

These experts are not only from Hong Kong, but also from foreign countries.

Everyone's opinions are so unanimous that even the people are extremely anxious, and they are looking forward to good news.

Of course, a reporter blocked Yin Jun and asked him what he thinks.

Yin Jun wanted to tell them that this round of negotiations would not only not make any progress, but would deal a heavier blow to Xiangjiang, and it would also be the beginning of the deepest low tide days in Xiangjiang.

But the boy couldn't say anything like this.

First, there is no way to explain why he knows, and second, with Yin Jun's current status, if he says so, Xiangjiang doesn't have to wait a week later, and he will be in chaos now.

In chaotic days, it's better to have less.

Even if there will be suffering, one day less is one day.

So as a last resort, Yin Jun can only say that he is cautiously optimistic about this negotiation, hoping that they can reduce their differences and get things done as soon as possible, which is good for everyone.

Yin Jun's answer is still relatively conservative.

In addition to the experts, the wealthy people and justices of the peace in Hong Kong have expressed optimism about the fourth round of negotiations.

It's not so much optimism, but in fact, in Yin Jun's view, it's them expressing their urgent hope for the future.

They can no longer stand the atmosphere of Xiangjiang, if it continues like this, Xiangjiang's economy will not be bleak, but completely collapsed.

The small people have nothing to lose, and the middle class is at most immigrants leaving, but they, the top of society, have left Xiangjiang, what are they left with?

Look at every financial crisis and economic crisis, who are the people who have moved to Hong Kong?

Which of the real top strata of society has emigrated the people?

These are all smart people, and they don't leave Xiangjiang because they believe that Xiangjiang will be better than other places.

Therefore, their various voices now are actually calling on both sides to quickly let us settle down and live a good life, otherwise it will not be beneficial for everyone.

Perhaps it is also the mentality of the super-rich and celebrities that has also affected ordinary people and increased their expectations for a new round of negotiations.

But in Yin Jun's eyes, it's just a little dangerous.

The higher their expectations for this negotiation, the greater their disappointment will be when the outcome is not satisfactory, and there will be a lot of crazy moves.

The darkest hour of this round of financial crisis surged at this time.

It took more than a year for it to return to normal.

And the various economic losses caused by this year or so are more than twice as many as those of the previous year.

What Yin Jun was waiting for was actually this time.

The general trend is beyond the reach of ordinary people, and even the people at the top are difficult to influence.

Everyone can only move with the general trend, and the bigwigs can load their own views and opinions, so that some changes can occur.

And a businessman like Yin Jun can only follow the trend.

If Yin Jun wants to change the current situation of Xiangjiang, and wants to speculate on real estate against the trend, so that Xiangjiang's real estate and economy can come back from the dead, then he is definitely looking for death.

Not only will it not save Xiangjiang's economy, but it will put itself into it.

Rather than saving sentient beings, Yin Jun prefers to realize his ideals.

From now until the next year, it will be the most important time for Yin Jun, who has not made any big moves in Xiangjiang for almost two years.

If it is done well, the century-old foundation of the Kirin Group will be completely settled.

With a solid rear base, Yin Jun's conquest around the world has the greatest guarantee!

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